Larry Fink’s BlackRock files new tokenized Treasury products with SEC

BlackRock has filed two new Treasury-linked products with the SEC to expand its presence in the tokenized asset market. The filings include the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle and an on-chain share class for the BlackRock Select Treasury Based Liquidity Fund, which currently manages nearly $7 billion. The Daily Reinvestment Stablecoin Reserve Vehicle will hold cash, short-term U.S. Treasuries, and overnight repo agreements, utilizing a permissioned system for public blockchains with Securitize Transfer Agent LLC. Simultaneously, the Select Treasury Based Liquidity Fund will leverage the ERC-20 token standard on Ethereum, with BNY Mellon Investment Servicing acting as the transfer agent. These initiatives follow the success of BlackRock's BUIDL fund, which reached approximately $2.5 billion in assets under management by mid-May 2026. As of May 10, 2026, both new products await regulatory approval, signaling a shift toward formalizing tokenization as a standard distribution channel. This expansion reflects a broader market trend where the tokenized U.S. Treasury sector has grown to roughly $11 billion, contributing to a total RWA market valuation of $26 billion.

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