BlackRock launches tokenized money market funds for stablecoin reserves
BlackRock launched two tokenized money market products aimed at stablecoin reserve management. BSTBL is a tokenized share class of its Select Treasury Based Liquidity Fund on Ethereum, allowing eligible investors to transfer shares between approved wallets while the fund holds cash, short-term U.S. Treasurys, and Treasury-backed overnight repos. BRSRV is a new tokenized money market fund for institutional investors that supports multiple blockchains and automatically reinvests daily dividends. Both are designed to qualify as reserve assets for permitted U.S. payment stablecoin issuers under the GENIUS Act. The launch deepens BlackRock’s role in tokenized Treasurys, alongside its BUIDL fund, which remains the largest in the category with over $2.6 billion in assets.
