BlackRock’s BUIDL Fund Now Accepted as Margin Collateral on Deribit and Crypto.com – A Game Changer?

Wall Street meets crypto—again. BlackRock’s BUIDL Fund just crossed into DeFi territory, now accepted as margin collateral on Deribit and Crypto.com. Traders get institutional-grade leverage, while purists groan about 'the establishment' co-opting the space.

Why it matters: When the world’s largest asset manager plants its flag in crypto derivatives, it’s not just validation—it’s a power play. Liquidity pools deepen, volatility could tighten, and let’s be honest—those 0% institutional borrowing rates just got more competitive.

The fine print: No new asset inflows reported (yet), but watch for BUIDL’s yield arbitrage against native DeFi protocols. Because nothing says 'decentralized' like BlackRock collecting fees on your leveraged long.

Bottom line: The suits are here to stay—and they brought cheaper margin. Cue the ironic cheers from degens who once tweeted 'death to TradFi.'

Why it matters

• BUIDL already rules the niche. The fund controls roughly 40 % of the $7.3 billion tokenized-Treasury market, holding about $2.9 billion in on-chain T-bills.
• TradFi meets crypto rails. Tokenized Treasuries offer the yield stablecoins lack, deepening the overlap between conventional finance and digital assets.
• Coinbase connection. The news lands weeks after Coinbase agreed to buy Deribit for $2.9 billion, a deal expected to funnel more institutions into on-chain fixed-income products.

Growing but concentrated market

Six issuers—BlackRock, Franklin Templeton, Ondo, Superstate, Centrifuge and Circle—account for nearly 90 % of tokenized U.S. debt, sparking centralization worries. ethereum hosts the lion’s share, with $5.7 billion of the total.

READ MORE:

Pepe Price Prediction: Trader Believes that PEPE’s Price Could Rise by 4,000%

Next in line

OKX, Binance and DeFi protocol FRAX have already moved to recognize BUIDL as collateral. Supporters cite better liquidity and lower counter-party risk thanks to BlackRock’s $11 trillion balance sheet. Skeptics counter that staking the market on so few issuers adds systemic exposure in a supposedly decentralized ecosystem.

For now, the experiment edges tokenized government debt closer to mainstream trading desks—another sign that real-world assets are becoming crypto’s fastest-growing frontier.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

SHARE: 0 SHARES