BlackRock files SEC plan to issue tokenized fund shares on Solana
The world's largest asset manager has filed with regulators to issue tokenized fund shares on Solana, signalling deeper institutional commitment to blockchain-based finance.
BlackRock has filed with the SEC to issue tokenized fund shares on Solana through a new product called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, or BRSRV. The fund is designed to qualify as a GENIUS Act asset, positioning it to serve as reserve backing for regulated stablecoins under new legislation.
Securitize is handling the tokenization, the same firm BlackRock has worked with on prior blockchain projects. BRSRV is structured as a multi-chain product and is not limited to Solana. Alongside this offering, BlackRock has also launched a separate tokenized fund called BSTBL on Ethereum, representing a broader strategy to bring institutional cash management functions onto public blockchains rather than keeping them confined to traditional custodial systems.
With $15 trillion in assets under management globally, BlackRock's move into tokenized products signals institutional conviction about blockchain infrastructure. The filing comes amid other major institutional developments, including Morgan Stanley's launch of an Ethereum ETF, reflecting a shift in the financial sector from debating blockchain participation to actively choosing which networks to build on.
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