BlackRock Tokenized Treasury Filings 2026: The RWA Boom Goes Institutional

BlackRock has filed two new proposals with the U.S. SEC in May 2026 to expand its tokenized asset offerings, signaling a shift from pilot programs to formal institutional architecture. The filings include the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, which holds cash, Treasuries, and repo agreements, and an on-chain share class for the $7 billion BlackRock Select Treasury Based Liquidity Fund (BSTBL). These products utilize permissioned systems on Ethereum and other blockchains, with Securitize Transfer Agent LLC and BNY Mellon serving as key infrastructure partners. Participation is restricted to institutional and accredited investors with a $3 million minimum investment threshold. These initiatives build upon the success of BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which reached $2.5 billion in AUM by mid-May 2026. The broader RWA market has surged to $33.8 billion, a 1,600% increase over two years, now surpassing the total value locked on decentralized exchanges. BlackRock is also exploring the tokenization of its $4 trillion iShares ETF franchise to further integrate traditional finance with blockchain rails.

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