BlackRock's BUIDL - the BlackRock USD Institutional Digital Liquidity Fund - is a tokenized Treasury product, but it is important to be upfront: as of 2026 it is an institutional offering with a minimum investment around $5 million, available only to qualified purchasers. For almost every individual investor, "how to buy BUIDL" really means "how to get BUIDL-equivalent exposure," and the honest answer is through retail-accessible alternatives. This guide covers both - the actual subscription path for those who qualify, and the realistic route for everyone else.

BUIDL draws attention because of its scale: in early 2025 it became the first tokenized fund from a major Wall Street manager to pass $1 billion, and it has since grown into the multiple billions, sitting at or near the top of the tokenized-Treasury market. That is why "how to buy BUIDL" is such a common search - and why the eligibility wall behind it matters.

First: are you eligible?

BUIDL is sold to institutions and qualified purchasers - a bar well above the accredited investor standard, generally requiring $5 million or more in investments. If you do not meet that, you cannot buy BUIDL directly, and no workaround changes the rule. That is not a dead end, though - the exposure it offers (tokenized US Treasury yield) is available elsewhere at retail minimums.

If you qualify: the subscription steps

For eligible institutional investors, the process runs through BlackRock's partner, Securitize.

You onboard with Securitize (identity verification and qualified-purchaser confirmation), sign the fund subscription documents, and have your wallet whitelisted. You then subscribe by transferring funds, and BUIDL tokens are issued to your approved wallet. The fund holds cash, US Treasuries, and repo; yield accrues daily and is distributed monthly as new tokens.

Two details set BUIDL apart from an ordinary token. First, it is transfer-restricted: it moves only between wallets Securitize has whitelisted, so you cannot send it to an arbitrary address the way you would a stablecoin. Second, its signature feature is a smart-contract facility that lets holders redeem BUIDL for USDC near-instantly, around the clock. That is what institutions actually use it for - on-chain collateral and cash management - rather than as a buy-and-hold yield product.

If you don't qualify: realistic alternatives

Most people should look here. Several retail-accessible products deliver the same core exposure - US Treasury yield on-chain - without the institutional minimum:

• Franklin Templeton's BENJI represents a registered government money fund and is open to ordinary investors at a low minimum. See our BENJI guide.
• Ondo Finance runs tokenized Treasury products (OUSG for accredited and institutional buyers, USDY as a yield-bearing note with broader access), while Circle's USYC and Superstate's USTB serve institutional and accredited investors.

Minimums and eligibility vary widely across these - from a few dollars to accredited-only - so check each against your own status and jurisdiction before committing. They will not be BUIDL specifically, but the economics you are actually after - short-term government yield, paid on-chain - are what they deliver, and they are within reach.

What to check either way

Whichever product you choose, confirm the essentials: what exactly backs the token (Treasuries, repo, cash), who custodies it, how yield is paid, the net asset value mechanics, and the redemption terms. Fund with a stablecoin or cash as the platform requires, and start small to see a full cycle before scaling up. The general flow mirrors any RWA purchase, covered in the general investing steps.

Where to go next

• Next: Franklin Templeton BENJI, explained.
• The full process: the general investing steps.
• Glossary: qualified purchaser.

Sources: BlackRock and Securitize disclosures; rwa.xyz, as of 2026.