BlackRock Tokenizes European Cash Funds on Ethereum

BlackRock has launched tokenized share classes for its European money market funds within its $311 billion Institutional Cash Series (ICS) platform.

The new tokenized share classes, built on Ethereum and powered by JPMorgan's Kinexys, give institutional investors 24/7 access to regulated cash products in euros, sterling, and U.S. dollars.

Each token issued is backed 1:1 by a corresponding traditional share, with the shareholder register remaining the definitive legal record of ownership.

The move follows BlackRock's August 3 launch of two tokenized money market funds in the U.S. and signals that the company is converting its entire cash franchise into blockchain-native form.