BlackRock Launches Two Tokenized Money Market Funds to Expand Blockchain Cash Management

ChainCatcher report: Asset management giant BlackRock has announced the launch of two tokenized money market products, further expanding its blockchain-based cash management offerings, including the BlackRock Select Treasury Based Liquidity Fund (BSTBL) and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). BlackRock stated that the new products combine the liquidity and stability of traditional money market funds with blockchain infrastructure, providing institutional investors with more flexible cash management tools between traditional finance and digital asset markets. Specifically, BSTBL will introduce tokenized shares on Ethereum based on an existing money market fund. These on-chain shares can be transferred between approved wallets in compliance with regulatory requirements. BNY Mellon will serve as the transfer agent and tokenization service provider for BSTBL. BRSRV is a newly designed tokenized money market fund tailored for digitally native institutional investors, supporting daily dividend reinvestment and multi-blockchain access, suitable for various digital asset use cases including stablecoin reserve management. Securitize will act as the transfer agent and tokenization service provider for this fund. Both products invest in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by U.S. Treasuries, aiming to generate returns while maintaining principal stability and liquidity. To date, BlackRock’s Cash Management group oversees approximately $1.1 trillion in cash strategies, serving a diverse range of investors including corporations, banks, foundations, insurance companies, and public institutions. The launch of these tokenized money market funds marks a significant step for traditional asset managers in expanding their presence in RWA (real-world asset tokenization) and on-chain financial infrastructure.