BlackRock Brings Institutional Money Market Funds On-Chain, Supporting US Stablecoin Ecosystem
The world's largest asset manager launches two blockchain-based money market products designed to serve as regulatory-approved reserve assets for stablecoins in the United States.
Institutional-Grade Tokenized Treasury Solutions Enter Blockchain
BlackRock, the world’s largest asset manager, has unveiled two new blockchain-based money market funds engineered to function as eligible reserve assets for stablecoins issued within the United States. This development marks a significant step in the maturation of institutional finance on distributed ledger networks, as a major traditional financial powerhouse continues to expand its exposure to blockchain infrastructure and tokenized asset markets.
The company’s move follows a broader industry trend toward bringing regulated, institutional-quality financial products directly onto blockchain networks, effectively bridging the gap between traditional banking infrastructure and emerging digital asset ecosystems. Both new products have been structured to comply with current US regulatory standards for stablecoin reserve backing, providing clarity for stablecoin issuers navigating an increasingly defined legal landscape.
Two Complementary Blockchain-Based Fund Products
The first product is the BlackRock Select Treasury Based Liquidity Fund OnChain Shares (BSTBL), which represents a tokenized version of BlackRock’s existing Select Treasury Based Liquidity Fund, deployed on the Ethereum blockchain. Through this offering, qualified institutional investors can acquire and transfer tokenized fund shares across approved digital wallets while maintaining standard exposure to cash balances, short-term US Treasury instruments, and overnight Treasury repurchase agreements. This structure preserves traditional fixed-income characteristics while enabling blockchain-based settlement and custody.
The second offering, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), is a newly created tokenized money market fund restricted to institutional investors. A key distinguishing feature is its multi-blockchain architecture, which allows broader integration across various decentralized finance environments. The fund is programmed to automatically reinvest daily dividend payments, a design particularly well-suited for institutions requiring stablecoin reserve management or engaging in blockchain-native financial operations.
Regulatory Alignment and Market Expansion
Both funds have been engineered to qualify as eligible reserve assets under the US GENIUS Act, the federal stablecoin legislation that took effect in July 2025. This regulatory compliance framework is particularly important, as it establishes a clear pathway for US-based stablecoin issuers to access BlackRock’s products as part of their reserve structures, combining regulatory certainty with direct blockchain accessibility.
This launch extends BlackRock’s already substantial presence in the tokenized Treasury market. The company’s USD Institutional Digital Liquidity Fund (BUIDL) currently holds the distinction of being the largest tokenized Treasury fund in existence, with assets exceeding $2.6 billion. The introduction of these two new products demonstrates BlackRock’s ongoing strategy to deepen its involvement in on-chain financial infrastructure at a time when institutional adoption of tokenized assets is accelerating.
This institutional validation of blockchain-based reserve systems reinforces the broader crypto market’s convergence with traditional finance, enhancing confidence in blockchain infrastructure overall.
Source: BlackRock, via Cointelegraph. Not financial advice.