BlackRock unveils tokenized money market funds

BlackRock launches BSTBL and BRSRV, tokenized money market funds for stablecoin issuers and digital-native investors, offering regulated blockchain-based cash management.

BlackRock has introduced two tokenized money market funds: the BlackRock Select Treasury Based Liquidity Fund (BSTBL) and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). These offerings expand BlackRock’s blockchain-based cash management solutions. BSTBL provides Ethereum-based tokenized shares of an existing money market fund, with BNY Mellon serving as both transfer agent and tokenization service provider. BRSRV is designed for digital-native institutional investors, offering daily dividend reinvestment and multi-blockchain access, with Securitize as the transfer agent. Both funds aim to qualify as eligible reserve assets for stablecoin issuers under the GENIUS Act. They invest in cash, short-term U.S. Treasury securities, and overnight repurchase agreements. Structured under the Investment Company Act of 1940, these products enable regulated yield distribution to crypto users and address the growing demand for high-quality reserve assets in the stablecoin and tokenized finance sectors.