Ondo Price Spikes 5% as Ondo Finance Tests Instant USDC Redemption From BlackRock (BLK) BUIDL Fund

The BlackRock USD Institutional Digital Liquidity Fund, created with tokenization firm Securitize, holds cash, U.S. Treasury bills and repurchase agreements. Investment in the fund is represented by the Ethereum-based BUIDL token, which provides yield paid out via blockchain rails every day to token holders.