BlackRock Files New Fund with SEC, Expanding Tokenized Offerings
BlackRock has filed a new fund called BlackRock Solana Fund with the U.S. Securities and Exchange Commission (SEC) on July 31, expanding its tokenized fund offerings. The fund will record share ownership directly on Solana, Ethereum, and Tempo, with Securitize acting as the transfer agent. This is part of BlackRock's growing blockchain strategy, which began in 2024.
The new fund, called RSVXX, is a money market fund designed to hold cash, short-term Treasuries, and overnight repurchase agreements. It aims to qualify as an eligible reserve asset under the GENIUS Act, allowing issuers to hold RSVXX shares as part of their backing reserves.
BlackRock's move into Solana is significant for institutional adoption, as it adds another example of infrastructure landing on the network. This trend has been tracked by crypto news outlets this year, with BlackRock also staking $250 million in ETH on Ethereum.