BlackRock, Inc. (BLK) Stock: Surges as Two Tokenized Cash Funds Launch Under GENIUS Act
TLDR
- BlackRock stock climbs 1.90% as two tokenized cash funds enter the market today.
- BSTBL brings an existing Treasury money market share class onto Ethereum’s network.
- BRSRV targets stablecoin issuers with daily reinvestment and multichain access.
- Both funds seek GENIUS Act eligibility as regulated stablecoin reserve assets.
- BlackRock expands tokenized finance after BUIDL grew to about $2.5 billion.
BlackRock (BLK) stock rose 1.90% to $1,111.13 at 11:38 EDT after a strong late-morning rally. The asset manager launched two tokenized money market products for institutional cash and stablecoin reserve management. The expansion links BlackRock’s established liquidity business with growing demand for regulated blockchain-based financial products.
BSTBL Brings an Existing Treasury Fund Onto Ethereum
BlackRock introduced OnChain Shares of the BlackRock Select Treasury Based Liquidity Fund, known as BSTBL. The new share class places an existing money market strategy on Ethereum for approved institutional wallets. BNY supports the product as transfer agent and tokenization provider while maintaining official ownership records.
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