According to Bloomberg, BlackRock is planning to launch two money market funds targeting investors holding cash in stablecoins. The company has filed documents to introduce a digital share class for the BlackRock Select Treasury Based Liquidity Fund (BSTBL), which has assets of approximately $6.1 billion. The fund primarily invests in cash, U.S. Treasury bills, notes, and other securities with remaining maturities of no more than 93 days. The tokenized securities will be offered on the Ethereum blockchain and operate alongside existing traditional share classes.
BlackRock to Launch Two Tokenized Money Market Funds for Stablecoin Holders
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Summary
BlackRock is set to launch two tokenized money market funds for stablecoin holders, marking a major token launch event in crypto market news. The firm has filed to offer a digital share class for its BlackRock Select Treasury-Based Liquidity Fund (BSTBL), which holds $6.1 billion in assets. The fund will invest in cash, U.S. Treasury bills, and short-term securities. Tokenized shares will be issued on Ethereum and operate alongside the traditional share class. This move further underscores the growing wave of institutional crypto activity in market news.
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