BlackRock Launches Tokenized Money Market Fund on Multiple Blockchain Networks

BlackRock is expanding its tokenized fund strategy to include Solana, Ethereum, and Tempo blockchain networks. The company has filed with the U.S. Securities and Exchange Commission (SEC) for a new money market fund called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (RSVXX), which will trade on these platforms.

The proposed RSVXX fund would invest in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by government securities. This structure is designed to preserve capital and maintain stable values while applying blockchain technology to the recording and transfer of ownership.

In a move that highlights growing institutional interest in tokenization, BlackRock's expansion could support greater flexibility in transferring and using fund shares within blockchain-based financial systems. Securitize will serve as the transfer agent for the proposed fund.