BlackRock Files for Two Tokenized Money-Market Funds Targeting Stablecoin Investors
- BlackRock has filed with the SEC to launch two tokenized money-market funds aimed at stablecoin holders.
- The first fund, BlackRock Select Treasury-Based Liquidity Fund (BSTBL), manages approximately $6.1 billion and invests in cash and U.S. Treasury securities.
- Tokenized shares of BSTBL will be launched on the Ethereum network, functioning similarly to traditional shares.
- The second fund, BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), targets investors preferring self-custody over brokerages.
- This initiative follows the GENIUS Act’s passage, which enhances the legitimacy of stablecoins.
BlackRock’s filing represents a significant step in providing compliant reserve assets for stablecoins. The launch of these funds reflects a growing trend towards integrating traditional finance with digital assets.
With the BSTBL managing around $6.1 billion and targeting stablecoin investors, BlackRock is positioning itself at the forefront of this evolving market landscape.(Source)
