BLACKROCK BU vs NEST CREDIT
BlackRock BUIDL and Nest Credit, compared on the things that decide whether you get your dollar back. Live data, updated continuously.
30-day peg gap and BLACKROCK BU/NEST CREDIT spread
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BlackRock BUIDL issues dollar-denominated tokenized real-world assets across 8 chains. Value shown is on-chain assets under management.
Verdict band: Adequate
Nest Credit issues dollar-denominated tokenized real-world assets across 3 chains. Value shown is on-chain assets under management.
Verdict band: Adequate
| Safety scoreComposite of collateral, peg, liquidity, issuer and track record. | ●●●●●5 of 5 | 66 | 62 | BLACKROCK BU |
|---|---|---|---|---|
| Collateral qualityWhat actually backs the token, and how liquid that backing is. | ●●●●●5 of 5 | 55 | 55 | Tie |
| Exit liquidityWhether you can leave at size without moving the price. | ●●●●●5 of 5 | $0.00 | $0.00 | Tie |
| Issuer & legal standingRegulatory perimeter, disclosure quality and redemption rights. | ●●●●4 of 5 | 48 | 48 | Tie |
| Peg tightness (live)Absolute distance from $1.00 right now — smaller is better. | ●●●●4 of 5 | 0.000% | 0.000% | Tie |
| Worst recorded depegHow badly the token has broken before, as a stress precedent. | ●●●●4 of 5 | None recorded | None recorded | Tie |
| Track recordYears live and behaviour through past stress events. | ●●●●4 of 5 | 53 | 53 | Tie |
| Scale / market capBigger float usually means broader venue support and tighter spreads. | ●●●3 of 5 | $3.55B | $115.02M | BLACKROCK BU |
| Chain reachNumber of networks where the token is natively deployed. | ●●●3 of 5 | 8 chains | 3 chains | BLACKROCK BU |
| Best available yieldUpside — but every extra point above T-bills is paid for with risk. | ●●2 of 5 | None | None | Tie |
"Matters" is our weighting of how much each dimension typically drives a real allocation decision. Sort any column to re-rank the tradeoffs by what matters to you.
The short answer
BLACKROCK BU scores higher on safety (66 vs 62), driven mainly by collateral quality and disclosure. BLACKROCK BU has deeper tracked liquidity ($0.00), which is what determines whether you can exit at size.
If both are fiat-reserve tokens, note that holding both is not diversification: they share the same short-dated Treasury and banking exposure. Genuine diversification means mixing collateral structures.
Which one fits your goal: BLACKROCK BU or NEST CREDIT?
Capital preservation over everything else.
For park cash safely, BLACKROCK BU is the better fit over NEST CREDIT.
- Safety score 66 vs 62, with collateral rated 55/100.
- Current peg deviation 0.000% against 0.000% for NEST CREDIT.
- No material depeg recorded for BLACKROCK BU in our incident log.
Concentrating in one issuer is a single point of failure regardless of score. Split across collateral structures.
Key risks, side by side
BLACKROCK BU
- Issuer and banking risk: reserves sit with BlackRock BUIDL under Not documented rules.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Attestation cadence: monthly.
NEST CREDIT
- Issuer and banking risk: reserves sit with Nest Credit under Not documented rules.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Attestation cadence: monthly.
| Metric | BLACKROCK BU | NEST CREDIT |
|---|---|---|
| Category | Tokenized Treasury | Tokenized Treasury |
| Issuer | BlackRock BUIDL | Nest Credit |
| Jurisdiction | Not documented | Not documented |
| Collateral | treasuries | treasuries |
| Peg mechanism | asset-backed | asset-backed |
| Attestation | monthly | monthly |
| Redemption | gated | gated |
| Price | $1.0000 | $1.0000 |
| Peg deviation | 0.000% | 0.000% |
| Market cap | $3.55B | $115.02M |
| 7d supply change | +0.48% | −1.48% |
| Liquidity | $0.00 | $0.00 |
| Best yield | None | None |
| Chains | 8 | 3 |
| Launched | — | — |
| Worst recorded depeg | None recorded | None recorded |
Spread, peg gap and switching cost
- Price spread (BLACKROCK BU vs NEST CREDIT)
- +0.0 bps
- $1.0000 vs $1.0000
- Peg deviation gap
- 0.000 pp
- BLACKROCK BU 0.000% · NEST CREDIT 0.000%
- Yield spread
- +0.00%
- BLACKROCK BU — · NEST CREDIT —
- Liquidity ratio
- —
- $0.00 vs $0.00
A round trip between BLACKROCK BU and NEST CREDIT costs roughly the market spread plus venue fees. At 0.0 bps of price gap, swapping $1M implies about $0.00 of price impact before fees — usually only worth it if the peg gap or yield spread is durable, not intraday noise.
Chain coverage
BLACKROCK BU is live on 8 chains, NEST CREDIT on 3. 2 chains carry both, so bridging is only unavoidable for the 7 networks where just one of them is deployed.
| Chain | BLACKROCK BU | NEST CREDIT | Both available |
|---|---|---|---|
| $1.19B | $27.22M | Yes | |
| $821.92M | — | BLACKROCK BU only | |
| $741.42M | $22.47M | Yes | |
| $634.39M | — | BLACKROCK BU only | |
| $111.06M | — | BLACKROCK BU only | |
| — | $65.33M | NEST CREDIT only | |
| $26.37M | — | BLACKROCK BU only | |
| $13.48M | — | BLACKROCK BU only | |
| $8.54M | — | BLACKROCK BU only |
BLACKROCK BU vs NEST CREDIT: frequently asked questions
Is BLACKROCK BU or NEST CREDIT safer?
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On our composite safety score BLACKROCK BU rates 66/100 versus 62/100 for NEST CREDIT. The score weighs collateral quality (treasuries vs treasuries), redemption rights, attestation quality, peg history and liquidity depth. A higher score is not a guarantee: both remain issuer-credit and smart-contract exposures, not insured bank deposits.
What is the difference between BLACKROCK BU and NEST CREDIT?
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BlackRock BUIDL is issued by BlackRock BUIDL (Not documented), backed by treasuries, with redemption terms: gated. Nest Credit is issued by Nest Credit (Not documented), backed by treasuries, with redemption terms: gated. Attestation coverage is "monthly" for BLACKROCK BU and "monthly" for NEST CREDIT.
Which has the bigger market cap, BLACKROCK BU or NEST CREDIT?
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BLACKROCK BU is larger at $3.55B in circulating supply, against $115.02M for the other. Over the last 7 days supply moved +0.48% for BLACKROCK BU and −1.48% for NEST CREDIT.
Are BLACKROCK BU and NEST CREDIT trading at $1.00 right now?
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BLACKROCK BU trades at $1.0000 (0.000% off peg) and NEST CREDIT at $1.0000 (0.000% off peg). The gap between the two is about 0.0 basis points, which is the cost you pay when rotating size between them before fees.
Has BLACKROCK BU or NEST CREDIT ever depegged?
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BLACKROCK BU: no material depeg recorded in our incident set. NEST CREDIT: no material depeg recorded in our incident set. Past peg behaviour under stress is the single best available proxy for how a token trades in the next crisis.
Which is better for large institutional size, BLACKROCK BU or NEST CREDIT?
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For block size the constraint is exit liquidity and primary redemption, not headline supply. BLACKROCK BU shows deeper on-chain liquidity at $0.00 versus $0.00. Combine that with the redemption channel — BLACKROCK BU: gated; NEST CREDIT: gated — and size trades against the primary window rather than the order book where possible.
Can I earn yield on BLACKROCK BU or NEST CREDIT?
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Neither BLACKROCK BU nor NEST CREDIT currently has a tracked yield venue in our dataset. Holding either in a wallet pays nothing; any advertised rate comes from lending or liquidity provision on top, with its own risk.
Which chains support both BLACKROCK BU and NEST CREDIT?
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Both are deployed on 2 shared networks, including Ethereum, Solana. BLACKROCK BU spans 8 chains in total and NEST CREDIT spans 3. Bridged supply on a chain is not the same as natively issued supply, and it usually carries the bridge's risk rather than the issuer's.
What does it cost to switch from BLACKROCK BU to NEST CREDIT?
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Budget three components: the current price spread of roughly 0.0 bps, swap or venue fees, and slippage against available depth ($0.00 for BLACKROCK BU, $0.00 for NEST CREDIT). For meaningful size, redeeming with the issuer and minting the other side is often cheaper than a secondary-market swap.
Is BLACKROCK BU or NEST CREDIT regulated?
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BLACKROCK BU is issued from Not documented with monthly; NEST CREDIT is issued from Not documented with monthly. Regulatory status varies by your own jurisdiction and by whether the token is offered under a specific stablecoin regime, so treat this as a starting point for diligence, not legal advice.