BlackRock Files for 2 New Tokenized Treasury Funds With SEC
RWA Signal Insight
U.S. TreasuriesBlackRock has filed two new proposals with the SEC to expand its tokenized fund offerings, signaling a significant push into on-chain financial infrastructure. The first proposal introduces the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, a fund holding cash, short-term U.S. Treasuries, and overnight repurchase agreements with a $3 million minimum investment. The second filing seeks to add an on-chain share class to the existing $7 billion BlackRock Select Treasury Based Liquidity Fund, utilizing the Ethereum blockchain and BNY Mellon for record-keeping. These initiatives build upon the success of the BUIDL fund, which has reached $2.5 billion in assets since its 2024 launch. By leveraging permissioned systems and off-chain identity verification, BlackRock aims to modernize settlement processes and enable 24/7 trading capabilities. This expansion underscores the institutional commitment to tokenization as a core component of future financial markets. As major players continue to integrate blockchain technology, the move reinforces the projected growth of the RWA sector toward a multi-trillion dollar valuation.
Key points
- BlackRock filed for a new Treasury-backed fund with a $3 million minimum investment.
- Existing $7 billion Select Treasury Based Liquidity Fund to add Ethereum-based share class.
- BUIDL fund assets reached $2.5 billion, serving as collateral for crypto market activities.
- Securitize and BNY Mellon act as transfer agents for on-chain ownership records.
Background
BlackRock is the world's largest asset manager, overseeing trillions in capital across diverse investment vehicles. The firm has recently pivoted toward tokenization, which involves issuing digital tokens on a blockchain that represent ownership in traditional financial assets like money-market funds or government bonds. This process aims to replace legacy settlement systems with programmable, transparent, and near-instantaneous digital ledger technology.