New data shared by Sentora highlights the on-chain distribution of BlackRock’s BUIDL fund, showing that the majority of assets remain on Ethereum, though other chains are gaining meaningful share.
Ethereum Holds the Largest Allocation
According to the breakdown, Ethereum accounts for approximately $694 million of BUIDL’s total on-chain distribution, making it the dominant settlement layer for the tokenized fund.
This reinforces Ethereum’s position as the primary infrastructure network for institutional-grade tokenization.
This chart breaks down BlackRock’s BUIDL on-chain distribution 👇
✔️ The majority still sits on Ethereum
✔️ Solana and BNB Chain aren’t far behind with over $500M each pic.twitter.com/oNhCpomWb6— Sentora (@SentoraHQ) February 21, 2026
Solana and BNB Chain Over $500M Each
Solana and BNB Chain are not far behind:
- Solana: $552.8 million
- BNB Chain: $504 million
Both networks now hold more than half a billion dollars in BUIDL allocations, signaling that institutional tokenization is no longer concentrated solely on Ethereum.
Other Chains in the Mix
Additional allocations include:
- Aptos: $264.8 million
- Avalanche: $82.3 million
- Arbitrum: $30 million
While smaller in comparison, these figures show growing multi-chain diversification for one of the largest tokenized fund products in the market.
What It Means
The distribution reflects a clear trend: institutional tokenization is expanding beyond a single-chain model.
Ethereum remains the dominant base layer for BUIDL, but Solana and BNB Chain have established themselves as serious alternatives, each capturing substantial share.
As tokenized assets continue to scale, the competition between chains for institutional liquidity appears to be intensifying rather than consolidating.
