BlackRock Tokenized Funds Now Manage $60 Billion in Circle Reserves
BlackRock has launched its tokenized money market funds on multiple blockchains, expanding its presence in blockchain finance. The centerpiece of the announcement is the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), a fund built around stablecoin reserve management with daily dividend reinvestment and access across several blockchain networks.
BRSRV records share ownership on Solana, Ethereum, and Tempo, with investors holding positions through approved wallets managed by Securitize. The fund's underlying holdings stay firmly conventional, allocating its portfolio exclusively to cash, short-term U.S. Treasury securities, and overnight repurchase agreements collateralized by Treasuries.
The launch builds directly on ground BlackRock broke in March 2024 with BUIDL, its first tokenized money market fund built with Securitize. With this move, BlackRock aims to become 'the reserve manager of choice' as the sector expands.