BlackRock launches two tokenized money market funds

BlackRock, the world's largest asset manager, launched two new tokenized money market funds on Monday, August 3, 2026, expanding its efforts to bridge traditional finance with digital asset markets. The products, named BSTBL and BRSRV, are designed to provide regulated, yield-bearing cash management options on blockchain networks and are structured to potentially qualify as reserve assets for stablecoins under U.S. law.

The first fund, the BlackRock Select Treasury Based Liquidity Fund On-Chain Shares (BSTBL), is a tokenized share class of an existing BlackRock money market fund, now accessible on the Ethereum blockchain. It will invest in cash, short-term U.S. Treasury securities, and Treasury-backed overnight repurchase agreements. BNY Mellon serves as the transfer agent and tokenization provider. Approved institutional investors can hold and transfer these tokenized shares between eligible digital wallets.

The second offering, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), is a newly created, multichain tokenized fund. It features daily dividend reinvestment and is specifically engineered for use by digitally native institutions, including stablecoin...