BlackRock launches tokenized money‑market funds for stablecoin reserves

BlackRock introduced two blockchain‑based money‑market products designed to meet reserve‑asset requirements for U.S. payment stablecoin issuers under the GENIUS Act. The BlackRock Select Treasury Based Liquidity Fund (BSTBL) tokenizes shares of an existing Treasury‑focused fund on Ethereum, while the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) is a newly created fund that reinvests income daily and operates across multiple blockchains.

The asset manager already oversees roughly $60 billion of reserves for Circle’s USDC, a sizable portion of the stablecoin market now valued at about $300 billion. By positioning tokenized funds as part of the regulated stablecoin infrastructure, BlackRock is deepening its involvement in the emerging tokenized Treasury market, a trend also being pursued by other large managers such as State Street and Invesco.