On Wednesday, Uniswap‘s token UNI jumped after BlackRock said it bought an undisclosed amount and will work with Securitize to list shares of the firm’s USD Institutional Digital Liquidity Fund (BUIDL) on UniswapX. The announcement drove demand and briefly lifted trading activity on the protocol.
CoinGecko showed UNI near $4.25, a gain of more than 20% over the prior day. The token peaked at $4.36 just after 9am in New York (Ed. note: the token remains far below its 2021 high near $45).
Major coins including Bitcoin and Ethereum traded lower the same day. The planned integration would use UniswapX, a meta-aggregator similar to CowSwap.
The Uniswap protocol holds roughly $3 billion in user deposits, according to data from DefiLlama. As a decentralized exchange, Uniswap allows trading without requiring users to reveal personal identity.
BlackRock’s BUIDL fund lets investors trade tokenised U.S. Treasury bills, cash, and repurchase agreements. BlackRock manages about $14 trillion in assets and has launched Bitcoin and Ethereum ETFs.
Uniswap Labs founder Hayden Adams said, “Our mission at Labs is simple: make exchanging value cheaper, faster and more accessible.” Uniswap did not immediately respond, and BlackRock did not respond to questions. For tips: mdisalvo@dlnews.com.
