- BlackRock launched two tokenized money market funds designed to serve as reserve assets for stablecoins under the US GENIUS Act.
- The first product, BSTBL, is a tokenized share class of an existing Treasury fund on Ethereum, with BNY as transfer agent.
- The second product, BRSRV, supports multiple blockchains and automatically reinvests daily dividends, with Securitize as transfer agent.
BlackRock, the world’s largest asset manager, introduced two blockchain-based money market funds on Thursday designed to qualify as stablecoin reserve assets under the US GENIUS Act. The first product, BlackRock Select Treasury Based Liquidity Fund OnChain Shares (BSTBL), is a tokenized share class of the firm’s existing Select Treasury Based Liquidity Fund on Ethereum.
Eligible investors can transfer tokenized fund shares between approved wallets while the fund continues investing in cash, short-term US Treasurys, and Treasury-backed overnight repurchase agreements. BNY serves as the transfer agent and tokenization provider for the fund’s onchain shares. Meanwhile, the second product, BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), is a newly created tokenized money market fund available to institutional investors.
This fund supports multiple blockchains, automatically reinvests daily dividends, and is built for digital asset use cases like stablecoin reserve management. Securitize is BRSRV’s transfer agent and tokenization provider. Consequently, the launches mark another step in bringing regulated financial products onto blockchain infrastructure.
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