BlackRock picks Ethereum: BUIDL passes 22 billion euros
The world's largest asset manager is expanding its tokenization of traditional assets (RWA) on Ethereum, wiring its Aladdin platform ever deeper into the blockchain. Meanwhile the Ethereum Foundation is restructuring hard: 54 jobs cut and a sharply lower budget. Two faces of the same network.
The contrast could hardly be bigger this week. On one side, BlackRock — the world's largest asset manager — is deepening its bet on Ethereum as the foundation for tokenizing traditional assets (real-world assets, RWA). On the other, the Ethereum Foundation is cutting about 20% of its staff. What does that say about where Ethereum stands?
In short
🏦 BlackRock is expanding its RWA tokenization on Ethereum, working closely with Ethereum developers · 🖥️ it deepens Aladdin, BlackRock's management platform running trillions in assets · 💰 the tokenized money-market fund BUIDL now tops €22 billion · 🤝 also new: Aladdin adds deeper support for Ethena's stablecoin products (USDe) · ✂️ meanwhile the Ethereum Foundation cuts 54 jobs (roughly 20%) and lowers its 2026 budget by roughly 40% · 📉 ETH trades roughly 70% below its peak.
What exactly is BlackRock doing?
BlackRock is putting more and more traditional financial products — money-market funds, bond-like products, possibly equity funds next — directly on the blockchain as tokens. It works closely with Ethereum developers and wires the infrastructure into Aladdin, the management system much of professional finance runs on.
The flagship is BUIDL, BlackRock's tokenized money-market fund, now above €22 billion in assets. Aladdin is also adding deeper support for Ethena's stablecoin products, including USDe. The message between the lines: to Wall Street, Ethereum isn't 'a crypto coin' — it's settlement infrastructure.
And at the same time: the Foundation shrinks hard
The same week, news broke that the Ethereum Foundation — the non-profit supporting protocol development — is letting 54 employees (roughly 20%) go and cutting its 2026 budget by about 40%. Departing staff receive one month of salary per year worked plus help finding roles elsewhere in the ecosystem.
Painful? Certainly. But the restructuring fits a longer arc: the Foundation wants to become smaller and sharper, leaving more to the broader ecosystem — exactly the ecosystem players like BlackRock are now entering.
Two faces, one network
The price barely moved on the news: ETH sits roughly 70% below its high, and analysts see room for further pressure while the macro climate stays hostile. The underlying trend is hard to ignore, though: the world's largest asset manager is building its tokenization future on Ethereum.
What does this mean for you?
Tokenization is a long-term story: it says little about next week's ETH price, but a lot about the network's role five years from now. If you believe in Ethereum, watch usage and adoption — not just the chart.
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This article is general information, not investment advice. Crypto carries risk; you can lose your deposit. Rules and terms can change — always check the official source. Links to partners may be affiliate links, at no extra cost to you.
Sources: BlackRock, Ethereum Foundation. Last checked: 2 July 2026.