BlackRock Files to Launch Tokenised Money Market Fund on Solana
BlackRock has filed with the SEC to launch a tokenised money market fund called BRSRV. The fund records share ownership on public blockchains including Solana, Ethereum, and Tempo. It invests in cash, short term US Treasuries, and overnight repurchase agreements.
The filing is part of a broader trend towards institutional adoption of blockchain technology. Securitize, the same firm behind BlackRock's earlier BUIDL fund, will act as transfer agent for the new vehicle.
SOL's technical indicators were neutral to bearish at the time of the filing, with its 50-day moving average below its 200-day moving average and a Relative Strength Index reading of around 46. The filing did not trigger an immediate reaction in SOL prices, likely due to the fund's multi-chain structure.