BlackRock to Launch Two Tokenized Money-Market Funds Targeting Stablecoin Investors

Doohyun Hwang

Summary

BlackRock said it will launch two tokenized money-market funds (MMFs) aimed at investors who hold cash in stablecoins.
BlackRock filed with the SEC for a digital share class linked to the roughly $6.1 billion BlackRock Select Treasury Liquidity Fund (BSTBL) that will trade on the Ethereum blockchain.
BlackRock also filed for the Daily Reinvesting Stablecoin Reserve Fund (BRSRV) and said tokenized fund BUIDL has grown to about $2.5 billion, as Larry Fink wrote that “every financial asset will eventually be tokenized.”

Forecast Trend Report by Period

BlackRock is preparing to launch two tokenized money-market funds aimed at investors who hold cash in stablecoins rather than bank accounts.

Bloomberg reported on May 8 that BlackRock recently filed with the US Securities and Exchange Commission for a digital share class linked to the roughly $6.1 billion BlackRock Select Treasury Liquidity Fund, or BSTBL. The fund invests in cash and US Treasuries with maturities of 93 days or less. The new tokenized securities will trade on the Ethereum blockchain alongside the fund’s traditional share classes.

BlackRock also filed with the SEC last Friday for a new tokenized money-market fund called the Daily Reinvesting Stablecoin Reserve Fund, or BRSRV. It is targeting an emerging group of investors who manage assets through crypto wallets and stablecoins rather than traditional securities firms. The fund is set to launch across multiple blockchains.

BlackRock previously launched its tokenized fund BUIDL, which has grown to about $2.5 billion. In his recent annual letter, Chief Executive Officer Larry Fink reiterated the company’s expansion plans in the sector, writing that “every financial asset will eventually be tokenized.”