Tokenisation Venture for Spark's $1 Billion RWA Fund Successfully Awarded to BlackRock's BUIDL, Superstate, and Centrifuge
In a significant move for the decentralised finance (DeFi) industry, Spark, formerly known as MakerDAO, has announced the allocation of a $1 billion Real-World Asset (RWA) fund. This announcement comes eight months after the initial plans were unveiled for tokenising $1 billion through Spark's DeFi lending subsidiary.
The selection process for the fund allocation involved an evaluation of 39 applicants, carried out by advisory firm Steakhouse Financial. The winners were chosen based on factors such as liquidity and capital efficiency.
Three firms have been selected to receive investments from Spark's $1 billion RWA fund. These are BlackRock's BUIDL, Superstate's USTB, and Centrifuge's JTRSY, with each receiving $200 million, $300 million, and $500 million respectively.
Once approved, these tokenised assets may be used as collateral for Sky's USDS stablecoin, as well as for its yield-bearing version, sUSDS, subject to governance approval.
The growing interest in digital assets, particularly in the U.S., is evident, with more financial institutions showing interest due to Trump's pre-election promises. Institutional adoption of crypto assets is on the rise, and this development is seen as a significant step towards mainstreaming cryptocurrencies.
The RWA segment of the crypto market has topped $4.6 billion, according to RWA tokenisation tracking platform RWA.xyz. The RWA segment has been a leading driver for crypto mainstreaming.
Notably, BlackRock, one of the leading drivers for institutional adoption of digital assets, has a BUIDL fund and has applied for a Spot Bitcoin ETF.
However, it's important to note that as of July 2025, there is no specific public update or detailed report on the current status of Spark's $1 billion tokenised RWA fund allocation or a confirmed list of firms chosen to receive investments from that fund. For precise updates, it might be necessary to consult direct announcements from Spark’s official channels, regulatory filings, or recent press releases.
Spark operates as a decentralized finance platform engaging with real-world assets and liquidity management. While information about its tokenomics, price performance, governance model, and overall DeFi strategy is readily available, specific details about the $1 billion RWA fund allocation—such as allocation progress, completed investments, or selected firms—are not extensively covered in the public domain.
- The three firms selected to receive investments from Spark's $1 billion RWA fund are BlackRock's BUIDL, Superstate's USTB, and Centrifuge's JTRSY, each receiving amounts of $200 million, $300 million, and $500 million respectively.
- With BlackRock's BUIDL fund and an application for a Spot Bitcoin ETF, BlackRock, a leading driver for institutional adoption of digital assets, is one of the firms selected to receive investments from Spark's $1 billion tokenised RWA fund.
