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BlackRock launches tokenized cash products tied to stablecoin reserves

The new vehicles, both filed with the SEC in May, are designed to qualify as eligible reserve assets under the GENIUS Act and rely on Securitize for tokenization.

Reported · Written up by our desk · Stablecoins

BlackRock is expanding its tokenized cash platform with new blockchain-based money market products, aiming to deepen its role in stablecoin reserve management, CoinDesk reports. The firm unveiled the BlackRock Select Treasury Based Liquidity Fund (BSTBL), a tokenized share class on Ethereum tied to an existing BlackRock money market fund, and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), which offers daily dividend reinvestment and is accessible across multiple blockchains.

Both funds are intended to qualify as eligible reserve assets for permitted U.S. payment stablecoin issuers under the GENIUS Act, BlackRock said. CoinDesk notes that Securitize will serve as BRSRV’s transfer agent and tokenization provider.

The update also follows BlackRock’s SEC filing in May for the new products. CoinDesk adds that the move extends BlackRock’s tokenized finance push, building on its 2024 launch of the first tokenized money-market fund, BUIDL, with Securitize.

CoinDesk further reports that BlackRock Chief Financial Officer Martin Small said on a Q2 2026 earnings call that the company wants to be the stablecoin reserve manager of choice. Small referenced managing $60 billion of reserves for Circle, which he said represents about a quarter of the $300 billion stablecoin market, and cited growth potential as U.S. money market funds surpassed $8.4 trillion in assets.

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