BlackRock has introduced on-chain products BSTBL and BRSRV aimed at institutional investors and participants in the digital asset market. Both funds primarily invest in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by these securities.
BSTBL represents a tokenized share class of the BlackRock Select Treasury Based Liquidity Fund on the Ethereum network, while BRSRV is a new tokenized fund known as the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, which allows for daily reinvestment of dividends and access through multiple blockchains.