According to ME News, on May 9 (UTC+8), BlackRock is planning to launch two tokenized money market funds targeted at stablecoin holders, rather than traditional bank account customers. One fund is a digital share class of the BlackRock Select U.S. Treasury Liquidity Fund, investing in cash and securities maturing within 93 days, such as U.S. Treasuries, and will be issued on the Ethereum blockchain. The other is a newly established BlackRock Daily Reinvestment Stablecoin Reserve Fund, designed for investors managing their finances through crypto wallets and stablecoins, and will be launched across multiple blockchains. BlackRock CEO Larry Fink has repeatedly stated that all financial assets will eventually be tokenized. BlackRock’s BUIDL fund, launched in 2024, currently has assets under management of approximately $2.5 billion. (Source: ChainCatcher)
BlackRock Plans Two Tokenized Money Market Funds for Stablecoin Holders
KuCoinFlashShare
Summary
Market news emerges as BlackRock plans two tokenized money market funds for stablecoin holders. One fund will be a digital share class of the BlackRock Select-Plus U.S. Treasury Money Market Fund, investing in cash and U.S. Treasury securities maturing within 93 days, issued on Ethereum. The second, a new Daily Reinvestment Stablecoin Reserve Fund, will target crypto wallet users and launch across multiple blockchains. This crypto market update highlights BlackRock’s expansion into blockchain-based financial products.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.