BlackRock has launched two tokenized money market funds designed to support stablecoin reserves, marking another major step in bringing traditional financial products onto blockchain networks. The world’s largest asset manager said the new products are structured to qualify as eligible reserve assets under the U.S. GENIUS Act, while expanding its presence in the rapidly growing tokenized finance market. One fund operates on Ethereum, while the other supports multiple blockchain networks and is specifically designed for institutional stablecoin reserve management.
The first product, called the BlackRock Select Treasury Based Liquidity Fund OnChain Shares (BSTBL), is a tokenized version of an existing money market fund built on Ethereum. Investors can transfer tokenized fund shares between approved wallets while the underlying fund continues investing in cash, short-term U.S. Treasury securities and Treasury-backed overnight repurchase agreements. BNY has been appointed as the transfer agent and tokenization provider for the on-chain shares.
BlackRock also introduced the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), a new tokenized money market fund created for institutional investors. The product supports multiple blockchain networks, automatically reinvests daily dividends and is designed for digital asset applications, including stablecoin reserve management. Digital asset infrastructure firm Securitize serves as its transfer agent and tokenization provider.
According to BlackRock, both products are structured to meet the reserve asset requirements set out under the GENIUS Act, the U.S. stablecoin legislation enacted in 2025. The launch further strengthens the company’s tokenization strategy, which aims to bring traditional investment products such as money market funds onto blockchain infrastructure.
BlackRock’s earlier tokenized Treasury fund, BUIDL, has already grown into the largest tokenized Treasury fund in the market, managing more than $2.6 billion in assets. The company also manages approximately $60 billion of reserves for Circle, underscoring its growing role in the stablecoin ecosystem.
Company executives believe demand for tokenized financial products will continue to rise as institutions seek high-quality reserve assets that can operate efficiently across both traditional financial systems and blockchain-based markets. The latest launch reflects BlackRock’s broader strategy of combining conventional investment products with digital asset infrastructure.
LATEST: 🏦 BlackRock launched two tokenized money market funds — BSTBL on Ethereum and BRSRV for stablecoin reserves — both designed to qualify as eligible reserve assets under the GENIUS Act. pic.twitter.com/3l7KRPzGAY
— CoinMarketCap (@CoinMarketCap) August 4, 2026
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