BlackRock launches tokenized money market funds (BSTBL, BRSRV) on Ethereum and Solana for institutional cash management.
DeFi & Yields ·
BlackRock has introduced two blockchain-based money market funds aimed at institutional investors seeking on-chain cash management solutions. The offerings—BSTBL, a tokenized share class of an existing Treasury-focused liquidity fund on Ethereum, and BRSRV, a newly created money market vehicle spanning multiple blockchains—are structured to qualify as eligible reserve assets for US stablecoin issuers under the GENIUS Act. BNY Mellon and Securitize serve as transfer agents and tokenization providers for the respective products, with BRSRV designed to automatically reinvest dividends daily for digital asset use cases.
The move signals BlackRock's deepening integration into tokenized finance infrastructure, leveraging its roughly $1.1 trillion cash management business. Both funds invest in short-duration Treasury instruments and related securities, positioning them as yield-bearing options for institutions operating on blockchain rails. BSTBL joins BlackRock's existing BUIDL fund, which holds over $2.6 billion in tokenized Treasury assets.
The structural details of each fund's blockchain availability and the precise mechanics of how institutional eligibility will be verified remain specific areas worth monitoring, as does the pace of institutional adoption and stablecoin reserve deployment across the products.