BlackRock BUIDL Reaches $2.6B, JPMorgan and Robinhood Build on Ethereum

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According to Fundstrat's Tom Lee, Wall Street institutional infrastructure on Ethereum is expanding significantly. BlackRock BUIDL, the asset manager's tokenized Treasury fund, has reached approximately $2.6 billion and earned Moody's top money-market rating. JPMorgan's MONY fund extends the bank's tokenization efforts, while Robinhood Chain, launched on July 1, ranked third among all networks by DEX volume within two weeks at about $811 million daily. Lee argues in Bitmine's July Chairman's message that this institutional activity reflects sustained demand independent of Ethereum's current price of $1,880, which sits roughly 60% below its 2025 peak near $5,000.
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