BlackRock Launches Two Tokenized Funds for Stablecoin Issuers and Institutions

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BlackRock has launched two tokenized funds to expand on-chain news for institutional and stablecoin participants. The BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) offers yield on cash, short-term US Treasuries, and overnight repurchase agreements. The BlackRock Select Treasury Based Liquidity Fund (BSTBL) will migrate $6.1 billion into the digital asset news space, operating on Ethereum. Both funds comply with the GENIUS Act and join BlackRock’s existing USD Institutional Digital Liquidity Fund (BUIDL), now totaling three tokenized offerings.

BlackRock, the world’s largest asset management corporation ($15.34 trillion in assets under management or AUM as of July 15, 2026), has today launched two tokenized fund shares to bring institutional and stablecoin issuers’ asset management on-chain.

The event comes after the company filed paperwork for both funds with the US Securities and Exchange Commission (SEC) just a few months back on May 8, 2026.

BlackRock BRSRV tokenized fund

The first is the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), which runs on multiple chains. This tokenized money market fund (tMMF) enables stablecoin issuers and digital-native institutions to earn yield on their assets.

The fund primarily holds cash, short-term US Treasuries, and overnight repurchase agreements, with daily dividend re-investment. It is provided in conjunction with Securitize, a leading tokenizer of Real-World Assets (RWAs).

BlackRock BSTBL tokenized fund

The second is the BlackRock Select Treasury Based Liquidity Fund (BSTBL), which exclusively runs on Ethereum. This fund will move one of the company’s pre-existing institutional funds worth $6.1 billion into the digital asset ecosystem.

Like its sister, the fund will invest in similar highly liquid, ultra-low-risk assets, but this time, BNY Mellon will act as the tokenization provider.

Notably, the two funds align with the GENIUS Act, which requires that stablecoin issuers back their tokens 1:1 with premium, low-risk reserves. In addition to BlackRock’s existing multi-chain flagship, BlackRock USD Institutional Digital Liquidity Fund (BUIDL), the new funds now expand the company’s tokenized portfolio to three funds.

Earnings report and RWA market overview

Just over two weeks ago, BlackRock released its earnings report, posting a 31% increase in revenue year-over-year. Its AUM is also at an all-time high, driven by market dominance and client demand.

While it maintains a huge share of the tokenized fund market, some of its closer rivals include Ondo Finance and Franklin Templeton.

Source: rwa.xyz

Meanwhile, the broader tokenized RWA market value has risen to $37.29 billion, up from $25.4 billion at the beginning of the year.

Source: rwa.xyz

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