Key highlights:
- BlackRock has launched two blockchain-based money market funds, BSTBL and BRSRV
- These funds can be used as reserve assets for US stablecoin issuers
- The asset manager has also launched 12 tokenized share classes linked to six money market funds in Europe
Asset manager BlackRock is doubling down on tokenized finance with the launch of two new blockchain-based money market funds, BSTBL and BRSRV. The move builds on the platform’s focus on expanding its digital asset offerings as demand for tokenized assets continues to rise.
Notably, the new products are designed to offer investors onchain access to money market funds. They also envision supporting the growing stablecoin ecosystem by providing high-quality reserve assets for regulated issuers.
BlackRock launches two tokenized money market funds
BlackRock has reportedly introduced two new tokenized money market products. They are BlackRock Select Treasury Based Liquidity Fund (BSTBL) and BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV).
Earlier, in May 2026, the company filed for both funds with the US Securities and Exchange Commission (SEC). As the regulator has now approved the application, the asset manager has launched the products, expanding its tokenized cash platform.
Notably, BSTBL is a tokenized share class of an existing BlackRock money market fund built on the Ethereum blockchain. This fund gives investors onchain access to traditional cash management products. At the same time, BRSRV is a new tokenized reserve tool offering daily dividend reinvestment. It is available across multiple blockchains, with Securitize serving as the fund’s transfer agent and tokenization provider.
It is also worth noting that the latest launch was built on the success of BlackRock’s first tokenized money market fund, BUIDL. For context, this fund was launched in 2024, partnering with Securitize. Since its debut, the product has significantly expanded, managing around $2.5 billion in assets.
Asset manager targets the growing stablecoin reserve market
As noted by BlackRock, both tokenized money market funds will serve as eligible reserve assets for US-based stablecoin issuers under the GENIUS Act. In simple terms, stablecoin companies can use these products to back their tokens with high-quality assets, meeting regulatory standards.
“As demand grows for high-quality reserve assets to support stablecoins and other tokenized financial products, these funds provide clients with additional choice in how they access and use money market fund investment solutions across traditional and digital markets,” stated BlackRock’s Jon Steel.
The company’s chief financial officer Martin Small added:
“We already manage $60 billion of reserves for Circle, representing about a quarter of the $300 billion stablecoin market. We see lots of growth ahead in stablecoin and we want to be the reserve manager of choice.”
Expanding tokenized money market funds across Europe
In addition to the newly launched tokenized money market funds in the US, BlackRock is also strengthening its presence in the European tokenization ecosystem. Marking another major step in its broader push for blockchain finance, the asset manager has reportedly expanded its tokenized money market funds in the European market.
As per the latest report, the company launched 12 tokenized share classes linked to six money market funds across 15 European markets. The funds, which comply with the European Union’s UCITS regulations, include share classes denominated in the euro, USD, and British pound.
Interestingly, these tokenized funds focus on corporate treasurers, asset managers, and investment consultants that look for more efficient ways to manage reserve cash. As BlackRock CEO Larry Fink has highlighted multiple times, this development underscores the importance of tokenization, which he believes could transform global financial markets.
Source:: BlackRock Expands Into Tokenized Money Market Funds With BSTBL and BRSRV