BlackRock Expands Tokenized Fund Footprint on Ethereum and Solana

BlackRock has made significant strides in tokenized fund expansion by launching on-chain share classes and money market funds (MMFs) on both Ethereum and Solana.

The Institutional Cash Series (ICS), a collection of highly regulated cash management strategies, is now available as digital tokens representing shares in traditional MMFs. This development utilizes J.P. Morgan's Kinexys platform to mint the tokens directly on the Ethereum blockchain.

Eligible institutional investors can access these tokenized funds with 24/7 peer-to-peer transferability and constant on-chain visibility of their holdings, while still maintaining the official shareholder register anchored in traditional financial infrastructure.

BlackRock's multi-chain strategy is designed to support stablecoin reserves with institutional-grade cash and U.S. Treasury assets, tapping into Solana's high-speed, low-cost execution environment favored by stablecoin issuers and decentralized finance (DeFi) platforms requiring high-throughput settlement.