BlackRock Expands Tokenization Push with Two New Blockchain-Based Funds

BlackRock has expanded its blockchain-based cash management and real-world asset strategy by launching two tokenized money market products. The move marks a significant step in the company's involvement in tokenization beyond individual blockchain products.

The first product, BSTBL (BlackRock Select Treasury Based Liquidity Fund), will issue tokenized shares on Ethereum that approved investors can transfer between compliant wallets. The fund holds cash, short-term U.S. Treasuries, and Treasury-backed overnight repurchase agreements, aiming to preserve principal and liquidity while generating returns from short-duration government debt.

The second product, BRSRV (BlackRock Daily Reinvestment Stablecoin Reserve Vehicle), will support multiple blockchains and automatically reinvest dividends each day. It targets stablecoin reserve management and will use the same core asset categories as BSTBL: cash, short-term U.S. government debt, and overnight repurchase agreements collateralized by Treasuries.

BlackRock's cash management group oversees nearly $1.1 trillion across its broader liquidity strategies, which could help introduce tokenized fund shares to investors already using its traditional liquidity products.