Crypto
S&P Gives BlackRock Tokenized Fund Top Stability Rating
S&P Global Ratings has given BlackRock's new tokenized money market fund its highest principal stability fund rating, 'AAAm'.
The fund, known as the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), launched on Monday and seeks to operate so that its shares qualify as eligible reserve assets for payment stablecoin issuers under the GENIUS Act.
The 'AAAm' rating was assigned due to the creditworthiness of BRSRV's investments and counterparties, its maturity structure, and management's ability to maintain a stable net asset value.
S&P also praised the fund's tokenization framework as operationally resilient, citing controls intended to mitigate cyber, smart contract, and blockchain network risks.