Ethereum
BlackRock Launches Tokenized Money Market Funds on Solana, Ethereum
The world's largest asset manager has introduced tokenized funds designed to serve as reserve assets for stablecoins, expanding its blockchain presence to Solana.
BlackRock launched the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) and tokenized on-chain shares of its existing BlackRock Select Treasury-Based Liquidity Fund (BSTBL) on Monday. Ownership is recorded across Solana, Ethereum, and Tempo, with investors holding shares through approved wallets managed by transfer agent Securitize.
The fund invests entirely in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by Treasuries, but does not invest in cryptocurrencies or digital assets. Access requires whitelisting and verified identity, with a $3 million minimum initial investment. The transfer agent can restrict transfers or freeze, revoke, or reissue tokenized shares as needed.
According to the prospectus filed with the SEC, BlackRock structured the fund to qualify as an eligible reserve asset under the GENIUS Act, which governs U.S. payment stablecoins. However, the company flagged risks: regulatory changes could affect whether stablecoin issuers continue using the fund as a reserve, while blockchain outages or smart contract vulnerabilities could disrupt transactions.
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