BlackRock Unveils Tokenized Money Market Funds to Fuel Stablecoin Growth

BlackRock has expanded its tokenized cash platform by launching two new blockchain-based money market products. The first, BlackRock Select Treasury Based Liquidity Fund (BSTBL), is a tokenized share class on Ethereum for an existing money market fund. The second, BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), offers daily dividend reinvestment and access across multiple blockchain networks.

The firm has filed with the U.S. Securities and Exchange Commission (SEC) to offer these new products, which aim to qualify as reserve assets eligible for payment stablecoin issuers operating in the United States under the GENIUS Act. Securitize acts as transfer agent and tokenization provider for BRSRV.

BlackRock's Chief Financial Officer, Martin Small, stated during the second quarter 2026 earnings presentation that the company manages $60 billion in reserves for Circle, representing roughly a quarter of the stablecoin market valued at $300 billion. The firm aims to become the reserve manager of choice, according to Small.

The tokenized real-world asset market has grown more than 200% over the past year and now surpasses $30 billion, with Citi projecting that tokenized securities could reach $5.5 trillion by 2030. BlackRock's cash management group oversees approximately $1.073 trillion in liquidity strategies.