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BlackRock launches tokenized money market funds for stablecoin reserves

Two products, including an Ethereum onchain share class and a multi blockchains fund for institutions, are designed to qualify under the US GENIUS Act.

Reported · Written up by our desk · Stablecoins

BlackRock has launched two tokenized money market products intended to serve as reserve assets for stablecoins, extending its push to bring regulated fund structures onto blockchain infrastructure, according to Cointelegraph.

One product, BlackRock Select Treasury Based Liquidity Fund OnChain Shares (BSTBL), is an onchain tokenized share class of BlackRock’s existing Select Treasury Based Liquidity Fund on Ethereum. Eligible investors can transfer the tokenized fund shares between approved wallets while the fund continues investing in cash, short term US Treasurys, and Treasury backed overnight repurchase agreements, with BNY listed as transfer agent and tokenization provider.

The second product, BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), is a newly created tokenized money market fund for institutional investors. It supports multiple blockchains and automatically reinvests daily dividends, with Securitize named as its transfer agent and tokenization provider.

BlackRock said both funds are structured to qualify as eligible reserve assets for permitted US payment stablecoin issuers under the GENIUS Act, the federal stablecoin law enacted in July 2025. The launch also expands BlackRock’s footprint in the tokenized Treasury market, where its USD Institutional Digital Liquidity Fund (BUIDL) remains the largest tokenized Treasury fund with more than $2.6 billion in assets, according to industry data cited by Cointelegraph.

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