BlackRock Expands Tokenized Portfolio with Two New Funds

BlackRock has launched two tokenized fund shares that enable stablecoin issuers and institutions to manage their assets on-chain. The funds, BRSRV and BSTBL, are a result of BlackRock filing paperwork with the SEC in May.

BRSRV is a tokenized money market fund that allows stablecoin issuers and digital-native institutions to earn yield on their assets. It holds cash, short-term US Treasuries, and overnight repurchase agreements, with daily dividend re-investment. Securitize provides this fund in conjunction with BlackRock.

BSTBL exclusively runs on Ethereum and will move one of BlackRock's pre-existing institutional funds worth $6.1 billion into the digital asset ecosystem. This fund invests in highly liquid, ultra-low-risk assets, with BNY Mellon acting as the tokenization provider.

The new funds align with the GENIUS Act, which requires stablecoin issuers to back their tokens 1:1 with premium, low-risk reserves. They expand BlackRock's tokenized portfolio to three funds, including its multi-chain flagship fund, BUIDL.