Crypto
BlackRock Tokenizes Money Market Fund for Stablecoin Reserves on Solana and Ethereum
BlackRock has launched its tokenized money market fund, BRSRV, on Solana, Ethereum, and Tempo blockchains.
The fund is designed for stablecoin reserves and has a minimum investment threshold of $3 million.
BRSRV invests exclusively in cash, short-term U.S. Treasuries, and overnight repurchase agreements collateralized by U.S. Treasuries.
BlackRock emphasized that the fund does not invest in any cryptocurrency assets.
The launch builds on BlackRock's broader tokenization strategy, which has seen its assets under management exceed $2.6 billion since launching its tokenized money market fund, BUIDL, in March 2024.