BlackRock Launches Two Tokenized Funds for Institutional Investors

BlackRock, the world's largest asset manager, has launched two new tokenized funds on its platform. The first is BSTBL OnChain Shares, which is a tokenized share class of BlackRock's existing Money Market Fund (MMF) called Select Treasury Based Liquidity Fund. This fund invests in US treasuries and repo trades, and the shares can be transferred between approved investor wallets.

The second fund is the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), which is a new tokenized MMF designed for institutional investors. This fund reinvests its daily dividends and allows for the management of stablecoins as well as other digital assets. BRSRV's on-chain shares are currently available on Ethereum, Solana, and Tempo.

Both funds aim to balance liquidity and capital stability with the efficiency of blockchain-based transactions. BlackRock has partnered with Bank of New York Mellon (BNY) to act as the transfer agent and tokenization provider for BSTBL OnChain Shares, while Securitize will serve in these roles for BRSRV.