BlackRock tokenizes $311B money market funds

BlackRock, the world's largest asset manager, announced on Tuesday, August 4, 2026, the launch of new tokenized money market funds, marking a significant expansion of blockchain technology into traditional cash management. The initiative includes tokenized versions of select Institutional Cash Series funds, which collectively manage $311 billion in assets, and introduces two new funds specifically designed to serve as eligible reserve assets for U.S. stablecoin issuers under the GENIUS Act.

The tokenized funds will represent shares in underlying money market funds, allowing for around-the-clock transfers between approved digital wallets. The offerings include sterling, euro, and U.S. dollar-denominated share classes. JPMorgan's Kinexys blockchain platform will provide the tokenization infrastructure, while JPMorgan will continue to serve as the funds' transfer agent. The new funds targeting stablecoin issuers, named BSTBL on Ethereum and BRSRV on Solana, are built to hold stablecoin reserves on-chain, keeping liquidity native to those networks.

Company executives stated the move aims to modernize market infrastructure. Beccy Milchem, BlackRock's global head of cash distribution,...