BlackRock tokenizes $311B in European money market funds on Ethereum via JPMorgan's Kinexys platform.
Tech & Launches ·
BlackRock has made available tokenized versions of six European money market funds with combined assets of $311 billion through a new share class structure. The tokens are created on Ethereum using Kinexys, the blockchain infrastructure unit of JPMorgan, while the official shareholder register remains maintained through traditional channels. The 12 new share classes span funds denominated in euros, British pounds, and U.S. dollars, with both distributing and accumulating variants, and are restricted to professional and qualified investors across multiple jurisdictions including the UK, Luxembourg, and Singapore.
The launch represents tokenization shifting from theoretical discussion to operational deployment. Each token holds equivalent rights to a fund share, and smart contracts enable peer-to-peer transfers between approved wallets around the clock with real-time settlement visibility. BlackRock has identified corporate treasury management, digital collateral systems, and wealth distribution as potential use cases for the structure, which adheres to the same capital preservation and liquidity standards as traditional share classes under Europe's UCITS regulatory framework.
The $311 billion figure reflects the existing assets in these six underlying funds, though BlackRock has not disclosed what portion it expects will actually migrate onto the blockchain. The announcement follows separate launches of tokenized money market funds on Solana, Ethereum, and Tempo announced the previous day, positioning the infrastructure upgrades as part of broader institutional adoption of on-chain asset management.