BlackRock Introduces Tokenized Money Market Funds for Stablecoin Reserves

BlackRock has introduced two tokenized money market funds designed for stablecoin reserve management. The funds, BSTBL and BRSRV, primarily invest in cash, short-term US Treasuries, and overnight repurchase agreements backed by US Treasuries. They are aimed at institutional investors and participants in digital-asset markets.

The demand for high-quality reserve assets backing stablecoins is rising, according to John Steil, BlackRock's global head of product and platform for cash management. The new funds give investors more options in how they access and use money market fund solutions across traditional and digital markets.

BSTBL issues a tokenized share class of an existing BlackRock money market fund on the Ethereum blockchain, with BNY Mellon providing transfer agency and tokenization services. BRSRV is a newly designed fund for digital-asset-native institutional investors, offering daily dividend reinvestment and multi-blockchain access.