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S&P rates BlackRock tokenized reserve fund AAAm for stability
The BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, launched Monday, holds cash, Treasury securities maturing in 93 days or less, and overnight Treasurys-backed repo, targeting a weighted average maturity of up to 60 days.
S&P Global Ratings assigned an “AAAm” principal stability fund rating to BlackRock’s new tokenized money market fund, citing the creditworthiness of its investments and counterparties, its maturity structure, and management’s ability to maintain a stable net asset value, according to Cointelegraph.
S&P said it found no weaknesses in qualitative areas including BlackRock Advisors’ management and organization, credit research and analysis, risk management and compliance, and described the fund’s tokenization framework as operationally resilient, including controls intended to mitigate cyber, smart contract, and blockchain network risks. The fund uses a permissioned architecture that restricts transactions to whitelisted wallets.
Cointelegraph reports the fund launched Monday as an open-end management investment company designed to have its shares qualify as eligible reserve assets for payment stablecoin issuers under the GENIUS Act. It will hold cash, US Treasury securities maturing in 93 days or less, and overnight repurchase agreements secured by Treasury instruments, with a weighted average maturity of no more than 60 days and a weighted average life of no more than 120 days.
Separately, S&P Global published an update on its Stablecoin Stability Assessments, stating that six of the 11 stablecoins it covers have an “adequate” or stronger ability to maintain their pegs to fiat currencies. S&P said two assessments were revised lower over the prior three quarters and that USDT remains at 5, or “weak,” after S&P lowered its assessment from 4, or “constrained,” in November 2025.