BlackRock Rolls Out New Tokenized Money Market Funds Designed to Qualify as Reserve Assets Under the GENIUS Act

TL;DR

• BlackRock launched two new tokenized money market funds: BSTBL on Ethereum and BRSRV, available across multiple blockchains.
• Both funds seek to qualify as eligible reserve assets for stablecoin issuers under the U.S. GENIUS Act.
• The tokenized real-world asset market grew more than 200% over the past year and now surpasses $30 billion.

BlackRock expanded its tokenized cash platform with two new blockchain-based money market products, according to an announcement by the asset manager.

The firm is the world’s largest asset manager. It introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL), a tokenized share class on Ethereum for an existing money market fund. It also launched the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), with daily dividend reinvestment and access across multiple blockchain networks. Filings with the U.S. Securities and Exchange Commission (SEC) had been submitted in May of this year.

BlackRock: Stablecoin Reserve Manager

Both funds aim to qualify as reserve assets eligible for payment stablecoin issuers operating in the United States, in accordance with the requirements of the GENIUS Act. Securitize acts as transfer agent and tokenization provider for BRSRV.

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