FinanceBlackRock Introduces New Blockchain-Based Money Market Funds

Both funds aim to qualify as eligible reserve assets for U.S. payment stablecoin issuers under the GENIUS Act.

By Ian Allison|Edited by Stephen AlpherUpdated Aug 3, 2026, 1:45 p.m. Published Aug 3, 2026, 1:15 p.m. 2 min read

  • The BlackRock Select Treasury Based Liquidity Fund (BSTBL) is a tokenized share class on Ethereum for an established BlackRock money market fund.
  • A new BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) has been launched, featuring daily dividend reinvestment and interoperability across various blockchains.

BlackRock, recognized as the largest asset manager globally, has expanded its offerings in tokenized cash by introducing two new blockchain-based money market products, as reported on Monday.

In May, the company submitted filings to the U.S. Securities and Exchange Commission (SEC) to create these products.

BlackRock is now providing on-chain shares of the BlackRock Select Treasury Based Liquidity Fund (BSTBL), which is a tokenized share class on Ethereum linked to an existing money market fund. Additionally, the new BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) has been introduced, allowing for daily dividend reinvestment and access across multiple blockchains, as disclosed in a press release.

Both funds are designed to qualify as eligible reserve assets under the GENIUS Act for approved U.S. payment stablecoin issuers. Securitize is serving as the transfer agent and tokenization partner for BRSRV.

This initiative represents a significant advancement in BlackRock's venture into tokenized finance, incorporating blockchain technology to create digital versions of traditional financial assets such as funds, bonds, and equities. Proponents claim that this technology enhances settlement speed, enables continuous trading, and increases transparency.

In 2024, BlackRock launched its inaugural tokenized money market fund, known as BUIDL, in partnership with Securitize (SECZ). This fund has since accumulated approximately $2.5 billion in assets and is increasingly utilized as collateral within the crypto markets for borrowing and leveraged trading.

During the recent Q2 2026 Earnings Call, BlackRock's Chief Financial Officer Martin Small expressed the company's ambition to become the preferred reserve manager for stablecoins in the industry. He noted that BlackRock already manages $60 billion in reserves for Circle, which accounts for about a quarter of the $300 billion stablecoin market. “We foresee substantial growth in the stablecoin sector and aim to be the reserve manager of choice,” Small stated during the call.

Currently, U.S. money market funds have surpassed $8.4 trillion in total assets. BlackRock's Cash Management Group oversees nearly $1.073 trillion in cash strategies for a diverse array of clients, including corporations, banks, foundations, insurance firms, and public funds.

Jon Steel, Global Head of Product and Platform for BlackRock's Cash Management division, remarked, “As the demand for high-quality reserve assets to support stablecoins and other tokenized financial products rises, these funds offer clients additional options for accessing and utilizing money market fund investment solutions across both traditional and digital markets.”

BlackRock's latest initiative coincides with the growing acceptance of tokenization on Wall Street, where CEO Larry Fink has consistently advocated for this technology as a means to modernize financial markets. The market for tokenized real-world assets has surged over 200% in the last year, exceeding $30 billion, according to rwa.xyz, while Citigroup forecasts that tokenized securities could reach $5.5 trillion by 2030.

UPDATE (August 3rd, 14:45 UTC): Added Securitize as BRSRV’s transfer agent and tokenization partner.