Tomasz Tunguz Blog · 2025-04-23 · 407d

Blockchain Tokenization: A New Liquidity Path for SaaS and Public Markets

Tokenized assets on blockchain databases are transforming financial markets by enabling faster settlement, continuous trading, and new collateral options. BlackRock's tokenized Treasury fund (BUIDL) demonstrates early success with $2B in assets, while tokenization of equities could dramatically reduce IPO costs and expand investor access globally.

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Metrics in this report

BlackRock BUIDL Assets Under Management

2$ billions

current

Tokenized Treasury fund

BlackRock BYTXX Assets Under Management

21$ billions

current

Classic Treasury fund

Blog Subscriber Base

150thousands

current

Tomasz Tunguz newsletter readers

Traditional IPO Cost Range

15-25$ millions

typical

Public market listing expenses