BlackRock expands tokenized cash with new blockchain-based money market offerings
BlackRock is expanding its tokenized finance offerings by launching new blockchain-based money market funds on Ethereum. These products aim to serve as reserve assets for stablecoin issuers, signaling the firm's intent to dominate the stablecoin reserve management market.
Why it matters
BlackRock's entry into tokenized assets bridges traditional finance and blockchain, potentially accelerating the institutional adoption of digital assets.
Back in May of this year, BlackRock filed for the new products with the U.S. Securities and Exchange Commission (SEC).
BlackRock is offering onchain shares of the BlackRock Select Treasury Based Liquidity Fund (BSTBL), a tokenized share class on Ethereum for an existing BlackRock money market fund. In addition, a new BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) has also been unveiled with daily dividend reinvestment and access across multiple blockchains, said BlackRock in a press release.
Both funds intend to qualify as eligible reserve assets for permitted U.S. payment stablecoin issuers under the GENIUS Act, the asset manager said.
The move deepens BlackRock’s push into tokenized finance, blockchain-based representations of traditional financial assets such as funds, bonds or equities. Advocates say the technology can speed up settlement, enable round-the-clock trading and improve transparency.
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