BlackRock unveils tokenized money‑market funds for stablecoin reserves across Solana, Ethereum and other blockchains

BlackRock, the world’s largest asset manager, launched two tokenized money‑market funds designed to serve as reserve assets for stablecoins. The BSTBL fund offers on‑chain shares of the existing Select Treasury Based Liquidity Fund on the Ethereum blockchain, while the newly created BRSRV (BlackRock Daily Reinvestment Stablecoin Reserve Vehicle) records ownership on Solana, Ethereum and Tempo and automatically reinvests daily dividends.

Both funds invest solely in cash, short‑term U.S. Treasury securities and overnight repurchase agreements backed by Treasuries, and they do not hold any digital assets. Institutional investors must meet a $3 million minimum and use whitelisted, verified wallets. Transfer agents are BNY for BSTBL and Securitize for BRSRV. The products are structured to qualify as eligible reserve assets under the U.S. GENIUS Act, which governs payment‑stablecoin backing.

BlackRock also extended tokenized share classes to its Institutional Cash Series, covering $311 billion of European‑denominated funds (euro, sterling, U.S. dollar) on the Ethereum blockchain via JPMorgan’s Kinexys platform, providing 24/7 peer‑to‑peer settlement for institutional cash managers.