BlackRock Launches Tokenized Money Market Funds on Solana, Ethereum
BlackRock is expanding its tokenized finance offering to Solana with a new money market fund, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), aimed at stablecoin reserves. It also launched tokenized on-chain shares of its BlackRock Select Treasury-Based Liquidity Fund (BSTBL). The fund records ownership on Solana, Ethereum, and Tempo through Securitize and uses whitelisted, identity-verified wallets with transfer restrictions. It invests only in cash, short-term U.S. Treasuries, and overnight Treasury-backed repo, and explicitly excludes digital assets. BlackRock says the structure is designed to qualify as an eligible reserve asset under the GENIUS Act, though future regulatory changes or blockchain/smart contract failures could affect operations. The move extends BlackRock’s tokenization push after BUIDL, which has grown to over $2.6 billion, and follows similar stablecoin-reserve products from Morgan Stanley and Fidelity.
