BUIDL vs JTRSY
BlackRock USD Institutional Digital Liquidity Fund and Janus Henderson Anemoy Treasury Fund are both treasuries tokens, so this page compares them. BUIDL is issued by BlackRock USD Institutional Digital Liquidity Fund Ltd. on Aptos, Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Optimism, Polygon, Solana. JTRSY is issued by Anemoy on Ethereum, Base, Arbitrum. The cited pages differ on issuer, custodian, fees, redemption, minimum size, chains. A dash is a field the issuer page does not state. The reverse URL redirects to this alphabetical pair.
All RWA tokens · BlackRock USD Institutional Digital Liquidity Fund · Janus Henderson Anemoy Treasury Fund
| Field | BlackRock USD Institutional Digital Liquidity Fund | Janus Henderson Anemoy Treasury Fund |
|---|---|---|
| Ticker | BUIDL | JTRSY |
| Asset class | Treasuries | Treasuries |
| Issuer | BlackRock USD Institutional Digital Liquidity Fund Ltd. | Anemoy |
| Issuer jurisdiction | British Virgin Islands | British Virgin Islands |
| Regulator | Offered under Rule 506(c) of the Securities Act of 1933 and Section 3(c)(7) of the Investment Company Act. The launch announcement says interests are not SEC-registered. BlackRock Financial Management, Inc., a Delaware corporation and SEC-registered investment adviser, is the investment manager. | Approved and regulated by the BVI Financial Services Commission. Anemoy says the token is prima facie evidence of ownership under BVI law, in the same way as a share certificate. The page does not name the fund's legal entity. |
| Token type | Tokenized fund share. The fund invests 100% of its total assets in cash, U.S. Treasury bills, and repurchase agreements. It seeks a stable value of $1 per token and pays daily accrued dividends as new tokens each month. | On-chain fund share for U.S. Treasury bills with a maximum maturity of six months. Issuance follows the proposed ERC-7540 standard, described as an extension of ERC-4626 that issues ERC-20 tokens. Holdings can be viewed through Centrifuge. |
| Custodian | Bank of New York Mellon, custodian of the fund's assets and its administrator. | — |
| Auditor | PricewaterhouseCoopers LLP, appointed as auditor for the period ending 31 Dec 2024. | — |
| Chains | Aptos, Arbitrum, Avalanche, BNB Smart Chain, Ethereum, Optimism, Polygon, Solana | Ethereum, Base, Arbitrum |
| Fees | The Securitize BUIDL page lists a management fee on each chain in its share-class table, all with a $5 million minimum: Aptos 20 bps, Arbitrum 50 bps, Avalanche 20 bps, BNB Smart Chain 18 bps, Ethereum 50 bps, Optimism 50 bps, Polygon 20 bps, and Solana 20 bps. The page does not publish one fee that applies on every chain. | — |
| Redemption | Securitize is the transfer agent. The launch announcement says investors can transfer tokens to other pre-approved investors. The BUIDL page says a redemption request received in good order between 8:00 AM and 3:00 PM ET on the redemption date is for same-day settlement, and a request that misses that recording deadline is redeemed on the next redemption date. The page says BUIDL can be converted into USD every business day. | Daily redemptions. Investments and redemptions are in USDC. The page also says the token allows redemptions in kind. It says 'low fees' and does not publish a percentage. |
| Minimum unit | Initial investment minimum $5 million. The Securitize page's eligibility table also lists a $250,000 subsequent minimum on the Ethereum qualified-purchaser row. | — |
| Launched | 2024-03-20 | — |
| Website | https://securitize.io/blackrock/buidl | https://www.anemoy.io/funds/jtrsy |
| CoinGecko id | — | — |
| Market cap | — | — |
| Supply | — | — |
Eligibility and redemption read from the issuer on 31 Oct 2026
How to buy BUIDL
Subscribe through Securitize at https://securitize.io/blackrock/buidl. The page says the investor verifies their identity, completes subscription documents, and sends funds by 11:00 a.m. New York time or 5:00 p.m. Luxembourg time on the subscription deadline so the money is deployed on the first day of the next month. The launch announcement says the interests will not be listed on any exchange. Securitize also offers a meeting with its investment team at https://securitize.io/buidl-booking-page.
The BUIDL page says token transfers are allowed only to whitelisted investors who have passed KYC and AML. Securitize says it collects identity information under securities rules and the USA PATRIOT Act.
Who can and cannot hold BUIDL
BlackRock USD Institutional Digital Liquidity Fund is issued from British Virgin Islands.
Regulator, as published: Offered under Rule 506(c) of the Securities Act of 1933 and Section 3(c)(7) of the Investment Company Act. The launch announcement says interests are not SEC-registered. BlackRock Financial Management, Inc., a Delaware corporation and SEC-registered investment adviser, is the investment manager.
The launch announcement offers BUIDL under Rule 506(c) of the Securities Act and Section 3(c)(7) of the Investment Company Act, and says the interests are not SEC-registered. They may not be offered or sold in the United States without registration or an exemption. The exemption in use limits the offering to verified accredited investors who are qualified purchasers. The Securitize page's eligibility table names qualified purchasers. Transfers go only to whitelisted investors. The pages do not publish a country list beyond that US securities restriction.
What redemption actually means in practice for BUIDL
The issuer does not publish a redemption minimum for BlackRock USD Institutional Digital Liquidity Fund.
The BUIDL page says the token can be converted into USD every business day. It does not name the paying bank's city. Bank of New York Mellon is the custodian of the fund's assets on the launch announcement, which is custody of the portfolio, not a delivery address for the holder.
The share-class table on the Securitize BUIDL page lists these management fees, each with a $5 million minimum: Aptos 20 bps, Arbitrum 50 bps, Avalanche 20 bps, BNB Smart Chain 18 bps, Ethereum 50 bps, Optimism 50 bps, Polygon 20 bps, and Solana 20 bps. The page does not publish one fee for every chain. The same page shows other fee rows that are not labeled with a fund name. Those rows are not recorded here.
The BUIDL page says a redemption request received in good order by the transfer agent between 8:00 AM and 3:00 PM ET on the redemption date is for same-day settlement. A blockchain redemption that is not recorded on the fund's books by that deadline is redeemed on the next redemption date. Dividends accrue to the holder of record at 3:00 p.m. ET and are paid the following business day as new tokens.
The issuer does not publish a storage fee for BlackRock USD Institutional Digital Liquidity Fund.
Direct purchase minimum: The share-class table lists a $5 million minimum on each chain it names. The eligibility table lists a $5 million initial minimum and a $250,000 subsequent minimum on the Ethereum qualified-purchaser row, in USD.
The issuer does not publish a reserve-report standard for BlackRock USD Institutional Digital Liquidity Fund.
How to buy JTRSY
The cited catalog does not include an official how-to-buy path for Janus Henderson Anemoy Treasury Fund.
Who can and cannot hold JTRSY
Janus Henderson Anemoy Treasury Fund is issued from British Virgin Islands.
Regulator, as published: Approved and regulated by the BVI Financial Services Commission. Anemoy says the token is prima facie evidence of ownership under BVI law, in the same way as a share certificate. The page does not name the fund's legal entity.
The cited catalog does not include a restricted-holder statement for Janus Henderson Anemoy Treasury Fund.
What redemption actually means in practice for JTRSY
Redemption, as published: Daily redemptions. Investments and redemptions are in USDC. The page also says the token allows redemptions in kind. It says 'low fees' and does not publish a percentage.
The issuer does not publish a minimum size for Janus Henderson Anemoy Treasury Fund.
The issuer does not publish an issuer fee for Janus Henderson Anemoy Treasury Fund.
BlackRock USD Institutional Digital Liquidity Fund sources
Janus Henderson Anemoy Treasury Fund sources
Questions
Yes. Both are treasuries. RWA Leads does not publish a comparison across asset classes.
BlackRock USD Institutional Digital Liquidity Fund: BlackRock USD Institutional Digital Liquidity Fund Ltd.. Janus Henderson Anemoy Treasury Fund: Anemoy.
BUIDL fees: The Securitize BUIDL page lists a management fee on each chain in its share-class table, all with a $5 million minimum: Aptos 20 bps, Arbitrum 50 bps, Avalanche 20 bps, BNB Smart Chain 18 bps, Ethereum 50 bps, Optimism 50 bps, Polygon 20 bps, and Solana 20 bps. The page does not publish one fee that applies on every chain.. JTRSY fees: not stated. BUIDL redemption: Securitize is the transfer agent. The launch announcement says investors can transfer tokens to other pre-approved investors. The BUIDL page says a redemption request received in good order between 8:00 AM and 3:00 PM ET on the redemption date is for same-day settlement, and a request that misses that recording deadline is redeemed on the next redemption date. The page says BUIDL can be converted into USD every business day.. JTRSY redemption: Daily redemptions. Investments and redemptions are in USDC. The page also says the token allows redemptions in kind. It says 'low fees' and does not publish a percentage..
The slugs in alphabetical order: /compare/buidl-vs-jtrsy. The other order is a permanent redirect.
BlackRock USD Institutional Digital Liquidity Fund: Subscribe through Securitize at https://securitize.io/blackrock/buidl. The page says the investor verifies their identity, completes subscription documents, and sends funds by 11:00 a.m. New York time or 5:00 p.m. Luxembourg time on the subscription deadline so the money is deployed on the first day of the next month. The launch announcement says the interests will not be listed on any exchange. Securitize also offers a meeting with its investment team at https://securitize.io/buidl-booking-page. The BUIDL page says token transfers are allowed only to whitelisted investors who have passed KYC and AML. Securitize says it collects identity information under securities rules and the USA PATRIOT Act. Janus Henderson Anemoy Treasury Fund: The cited catalog does not include an official how-to-buy path for Janus Henderson Anemoy Treasury Fund.
BlackRock USD Institutional Digital Liquidity Fund is issued from British Virgin Islands. Regulator, as published: Offered under Rule 506(c) of the Securities Act of 1933 and Section 3(c)(7) of the Investment Company Act. The launch announcement says interests are not SEC-registered. BlackRock Financial Management, Inc., a Delaware corporation and SEC-registered investment adviser, is the investment manager. The launch announcement offers BUIDL under Rule 506(c) of the Securities Act and Section 3(c)(7) of the Investment Company Act, and says the interests are not SEC-registered. They may not be offered or sold in the United States without registration or an exemption. The exemption in use limits the offering to verified accredited investors who are qualified purchasers. The Securitize page's eligibility table names qualified purchasers. Transfers go only to whitelisted investors. The pages do not publish a country list beyond that US securities restriction. Janus Henderson Anemoy Treasury Fund is issued from British Virgin Islands. Regulator, as published: Approved and regulated by the BVI Financial Services Commission. Anemoy says the token is prima facie evidence of ownership under BVI law, in the same way as a share certificate. The page does not name the fund's legal entity. The cited catalog does not include a restricted-holder statement for Janus Henderson Anemoy Treasury Fund.
BlackRock USD Institutional Digital Liquidity Fund: The issuer does not publish a redemption minimum for BlackRock USD Institutional Digital Liquidity Fund. The BUIDL page says the token can be converted into USD every business day. It does not name the paying bank's city. Bank of New York Mellon is the custodian of the fund's assets on the launch announcement, which is custody of the portfolio, not a delivery address for the holder. The share-class table on the Securitize BUIDL page lists these management fees, each with a $5 million minimum: Aptos 20 bps, Arbitrum 50 bps, Avalanche 20 bps, BNB Smart Chain 18 bps, Ethereum 50 bps, Optimism 50 bps, Polygon 20 bps, and Solana 20 bps. The page does not publish one fee for every chain. The same page shows other fee rows that are not labeled with a fund name. Those rows are not recorded here. The BUIDL page says a redemption request received in good order by the transfer agent between 8:00 AM and 3:00 PM ET on the redemption date is for same-day settlement. A blockchain redemption that is not recorded on the fund's books by that deadline is redeemed on the next redemption date. Dividends accrue to the holder of record at 3:00 p.m. ET and are paid the following business day as new tokens. The issuer does not publish a storage fee for BlackRock USD Institutional Digital Liquidity Fund. Direct purchase minimum: The share-class table lists a $5 million minimum on each chain it names. The eligibility table lists a $5 million initial minimum and a $250,000 subsequent minimum on the Ethereum qualified-purchaser row, in USD. The issuer does not publish a reserve-report standard for BlackRock USD Institutional Digital Liquidity Fund. Janus Henderson Anemoy Treasury Fund: Redemption, as published: Daily redemptions. Investments and redemptions are in USDC. The page also says the token allows redemptions in kind. It says 'low fees' and does not publish a percentage. The issuer does not publish a minimum size for Janus Henderson Anemoy Treasury Fund. The issuer does not publish an issuer fee for Janus Henderson Anemoy Treasury Fund.