BlackRock Launches Two Tokenized Money Market Funds for Stablecoin Reserves
RWA Signal Insight
U.S. TreasuriesBlackRock has expanded its digital asset footprint by launching two new blockchain-based money market funds, the BlackRock Select Treasury Based Liquidity Fund OnChain Shares (BSTBL) and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). BSTBL operates on the Ethereum blockchain to issue tokenized shares of a traditional money market fund, with BNY Mellon managing recordkeeping and issuance. Meanwhile, BRSRV is designed for institutional digital-asset markets, offering automated daily dividend reinvestment and cross-chain compatibility for stablecoin reserve management. Both funds invest in cash, short-term U.S. Treasuries, and repurchase agreements to maintain liquidity and principal stability. These products address the growing institutional demand for high-quality, on-chain reserve assets that bridge traditional finance with digital markets. By leveraging blockchain technology, BlackRock aims to integrate its $1.1 trillion cash management expertise into the broader $8.4 trillion U.S. money market fund sector. This move signifies a major institutional commitment to providing regulated, tokenized vehicles for corporate and stablecoin treasury management.
Key points
- BlackRock launched BSTBL and BRSRV funds for institutional cash and stablecoin reserve management.
- BSTBL issues shares on Ethereum, while BRSRV supports cross-chain functionality for digital assets.
- BNY Mellon and Securitize serve as key partners for token issuance and investor recordkeeping.
- Funds invest in cash, U.S. Treasuries, and repurchase agreements to ensure principal stability.
Background
BlackRock is the world's largest asset manager, overseeing trillions in assets across various investment vehicles. Money market funds are mutual funds that invest in highly liquid, short-term debt instruments, providing investors with a low-risk way to earn interest while maintaining capital preservation.