BlackRock's Tokenized Reserve Fund Earns Top Stability Rating from S&P

S&P Global Ratings has awarded its highest principal stability fund rating to BlackRock's newly launched tokenized money market fund, BRSRV. The 'AAAm' rating was given due to factors such as investment and counterparty creditworthiness, short maturity design, and management's ability to maintain a stable net asset value.

S&P found no weaknesses in its qualitative review of BlackRock Advisors' management and organization, credit analysis, risk management, and compliance. The fund's tokenization approach was also deemed operationally resilient due to controls designed to mitigate cyber, smart contract, and blockchain network risks.

BRSRV holds cash, U.S. Treasury securities maturing in 93 days or less, and overnight repurchase agreements secured by Treasury instruments. Its weighted average maturity is no more than 60 days and its weighted average life is no more than 120 days.