Ethereum
BlackRock Tokenizes €311B European Money Market Funds on Ethereum
The asset manager launched tokenized shares for 12 fund classes covering $311 billion across six BlackRock cash strategies using JP Morgan's Kinexys infrastructure.
BlackRock launched its first tokenized fund access in Europe, creating 12 new share classes across six funds in the BlackRock Institutional Cash Series. The tokenized offerings, which represent $311 billion in combined value, cover euro, sterling and U.S. dollar strategies in both distributing and accumulating formats.
Tokens are minted on Ethereum through Kinexys, JP Morgan's blockchain unit, which manages the minting and burning process while serving as the layer between on-chain activity and the traditional share register. Each token represents a share in the underlying fund, with smart contracts enabling round-the-clock peer-to-peer transferability and near real-time settlement between approved investor wallets.
The share classes are restricted to professional and qualified clients rather than retail investors, with availability in Bermuda, Estonia, France, Germany, Ireland, Lithuania, Luxembourg, Malta, the Netherlands, Singapore, Spain, Sweden and the UK. The underlying funds are public debt constant net asset value and low volatility structures regulated under Europe's UCITS regime, maintaining the same capital preservation, liquidity and risk management standards as existing non-tokenized share classes.
BlackRock expects tokenization to enable use cases including corporate treasury management, digital collateral and distribution through banks and wealth managers. The launch follows BlackRock's announcement the previous day of tokenized money market funds on Solana, Ethereum and Stripe's Tempo platform, intended for stablecoin reserve management.
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