What came in and went out
On 29 September 2026 the tokens we measure netted −$822K across 17 legs: 6 subscriptions, 2 redemptions, and 10 of 17 legs with a transaction trail that reconciles to the day's change in supply. A flow here is a change in token supply between two midnight blocks: money in when tokens are minted, out when they are burned, with no price move in it.
BlackRock BUIDL, with the dividend taken out
BUIDL pays its yield as new tokens, one batch a day, one mint per holder. That batch is not an inflow. It is found by its shape in the event trail, subtracted, and shown beside the net. Legs: BUIDL, BUIDL-I on 3 chain pairs, measured since 8 Aug 2026.
| Day (UTC) | Token | Chain | Net flow, dividend excluded | Dividend | Holders paid | Subs | Redemptions | Trail agrees |
|---|---|---|---|---|---|---|---|---|
| 29 Sep 2026 | BUIDL | Ethereum | $-826,374 | $19,108 | 32 | 0 | 1 | yes |
| 29 Sep 2026 | BUIDL | Polygon | $0 | $768 | 6 | 0 | 0 | yes |
| 29 Sep 2026 | BUIDL-I | Ethereum | $0 | $24,609 | 4 | 0 | 0 | yes |
| 28 Sep 2026 | BUIDL | Ethereum | $-4,238,983 | $58,512 | 33 | 0 | 1 | yes |
| 28 Sep 2026 | BUIDL | Polygon | $0 | $2,302 | 6 | 0 | 0 | yes |
| 28 Sep 2026 | BUIDL-I | Ethereum | $0 | $73,820 | 4 | 0 | 0 | yes |
| 27 Sep 2026 | BUIDL | Ethereum | $0 | $0 | 0 | 0 | 0 | yes |
| 27 Sep 2026 | BUIDL | Polygon | $0 | $0 | 0 | 0 | 0 | yes |
| 27 Sep 2026 | BUIDL-I | Ethereum | $0 | $0 | 0 | 0 | 0 | yes |
| 26 Sep 2026 | BUIDL | Ethereum | $0 | $0 | 0 | 0 | 0 | yes |
| 26 Sep 2026 | BUIDL | Polygon | $0 | $0 | 0 | 0 | 0 | yes |
| 26 Sep 2026 | BUIDL-I | Ethereum | $0 | $0 | 0 | 0 | 0 | yes |
| 25 Sep 2026 | BUIDL | Ethereum | $0 | $19,429 | 33 | 0 | 0 | yes |
| 25 Sep 2026 | BUIDL | Polygon | $0 | $765 | 6 | 0 | 0 | yes |
| 25 Sep 2026 | BUIDL-I | Ethereum | $0 | $24,520 | 4 | 0 | 0 | yes |
| 24 Sep 2026 | BUIDL | Ethereum | $0 | $19,368 | 33 | 0 | 0 | yes |
| 24 Sep 2026 | BUIDL | Polygon | $0 | $763 | 6 | 0 | 0 | yes |
| 24 Sep 2026 | BUIDL-I | Ethereum | $0 | $24,450 | 4 | 0 | 0 | yes |
| 23 Sep 2026 | BUIDL | Ethereum | $9,096,927 | $18,521 | 33 | 1 | 1 | yes |
| 23 Sep 2026 | BUIDL | Polygon | $0 | $762 | 6 | 0 | 0 | yes |
| 23 Sep 2026 | BUIDL-I | Ethereum | $0 | $24,448 | 4 | 0 | 0 | yes |
| 22 Sep 2026 | BUIDL | Ethereum | $0 | $18,433 | 33 | 0 | 0 | yes |
| 22 Sep 2026 | BUIDL | Polygon | $0 | $759 | 6 | 0 | 0 | yes |
| 22 Sep 2026 | BUIDL-I | Ethereum | $-24,999,000 | $26,881 | 4 | 0 | 1 | yes |
| 21 Sep 2026 | BUIDL | Ethereum | $-11,073,087 | $58,359 | 33 | 1 | 1 | yes |
| 21 Sep 2026 | BUIDL | Polygon | $0 | $2,277 | 6 | 0 | 0 | yes |
| 21 Sep 2026 | BUIDL-I | Ethereum | $-1,006 | $80,619 | 4 | 0 | 2 | yes |
| 20 Sep 2026 | BUIDL | Ethereum | $0 | $0 | 0 | 0 | 0 | yes |
| 20 Sep 2026 | BUIDL | Polygon | $0 | $0 | 0 | 0 | 0 | yes |
| 20 Sep 2026 | BUIDL-I | Ethereum | $0 | $0 | 0 | 0 | 0 | yes |
| 19 Sep 2026 | BUIDL | Ethereum | $0 | $0 | 0 | 0 | 0 | yes |
| 19 Sep 2026 | BUIDL | Polygon | $0 | $0 | 0 | 0 | 0 | yes |
| 19 Sep 2026 | BUIDL-I | Ethereum | $0 | $0 | 0 | 0 | 0 | yes |
| 18 Sep 2026 | BUIDL | Ethereum | $-2,000,000 | $19,639 | 33 | 0 | 1 | yes |
| 18 Sep 2026 | BUIDL | Polygon | $0 | $759 | 6 | 0 | 0 | yes |
| 18 Sep 2026 | BUIDL-I | Ethereum | $0 | $26,875 | 4 | 0 | 0 | yes |
| 17 Sep 2026 | BUIDL | Ethereum | $-5 | $18,518 | 33 | 1 | 5 | yes |
| 17 Sep 2026 | BUIDL | Polygon | $0 | $719 | 6 | 0 | 0 | yes |
| 17 Sep 2026 | BUIDL-I | Ethereum | $-259,994,895 | $50,517 | 3 | 6 | 3 | yes |
| 16 Sep 2026 | BUIDL | Ethereum | $0 | $18,632 | 33 | 0 | 0 | yes |
| 16 Sep 2026 | BUIDL | Polygon | $0 | $723 | 6 | 0 | 0 | yes |
| 16 Sep 2026 | BUIDL-I | Ethereum | $-50,000,000 | $55,640 | 3 | 0 | 1 | yes |
| 15 Sep 2026 | BUIDL | Ethereum | $-1 | $18,477 | 33 | 0 | 1 | yes |
| 15 Sep 2026 | BUIDL | Polygon | $0 | $718 | 6 | 0 | 0 | yes |
| 15 Sep 2026 | BUIDL-I | Ethereum | $-24,999,999 | $57,623 | 3 | 1 | 1 | yes |
Ondo's portfolio tokens
Seven portfolio tokens, three built on BlackRock model portfolios, launched 23 Sep 2026. Each is backed by a basket of tokenized stocks already in the market total, so these are read daily for their flows and never counted twice. Sizes are small; they are published anyway, because a flow series is only worth having from the first day.
| Token | Chain | Net flow (tokens) | Net flow | Price | Subs | Redemptions | Trail agrees | Cumulative |
|---|---|---|---|---|---|---|---|---|
| BLKDIGon | Binance | 19.8 | $100 | $5 | — | — | — | $499 |
| BLKDIGon | Ethereum | 0.0 | $0 | $5 | 0 | 0 | yes | $108,333 |
| BLKGRWon | Binance | 94.7 | $485 | $5 | — | — | — | $26,560 |
| BLKGRWon | Ethereum | 510.9 | $2,616 | $5 | 2 | 0 | yes | $197,361 |
| BLKHIon | Binance | 10.2 | $50 | $5 | — | — | — | $486 |
| BLKHIon | Ethereum | 203.5 | $1,001 | $5 | 1 | 0 | yes | $90,593 |
| BRAINon | Binance | 4.7 | $26 | $5 | — | — | — | $20,954 |
| BRAINon | Ethereum | 79.3 | $430 | $5 | 2 | 1 | yes | $12,367 |
| MAG7Xon | Binance | 2.2 | $12 | $6 | — | — | — | $367 |
| MAG7Xon | Ethereum | 18.0 | $101 | $6 | 1 | 0 | yes | $1,963 |
| YLD5on | Binance | 0.0 | $0 | $5 | — | — | — | $102 |
| YLD5on | Ethereum | 0.0 | $0 | $5 | 0 | 0 | yes | $1,791 |
| YLD8on | Binance | 0.0 | $0 | $5 | — | — | — | $102 |
| YLD8on | Ethereum | 0.0 | $0 | $5 | 0 | 0 | yes | $1,558 |
How we know
This is not the change in market value (that mixes flows with price moves), not a count of secondary trades (transfers between holders do not change supply), and not a NAV-exact dollar figure (the price is a public contract price, not the issuer's quote). BUIDL's dividend is separated by its shape, a rule rather than a proof: a subscription split across many recipients in one transaction would look the same, so a test bounds every flagged batch to between 0.001% and 1.5% of supply. Where a chain has no reachable event log the leg shows its supply change without a trail, and a yield-paying token on such a chain shows no flow at all rather than one with the dividend in it.