Huoxing Finance reports that BlackRock has launched tokenized share classes for its European money market funds, covering six funds under the BlackRock Institutional Cash Series with combined assets under management of $311 billion. This marks BlackRock’s first offering of on-chain fund access in Europe, including both distributing and accumulating share classes for euro, pound sterling, and U.S. dollar strategies. The related tokens are minted on Ethereum by JPMorgan’s blockchain division, Kinexys, which is responsible for minting and burning tokens and connecting on-chain activities with traditional shareholder registries. Each token represents one share of the underlying fund, while the official shareholder register is maintained by the fund’s transfer agent. Smart contracts enable transfers of holdings between approved investor wallets; these shares are offered exclusively to professional and qualified clients, not retail investors. On Monday, BlackRock also launched tokenized money market funds on Solana, Ethereum, and Stripe’s Tempo for stablecoin reserve management.
BlackRock tokenizes 31.1 billion euros worth of money market fund shares in Europe
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Summary
BlackRock has launched a tokenized share class for its European money market funds under the BlackRock Institutional Cash Series, covering six funds with $311 billion in assets. This on-chain milestone marks the firm’s first on-chain fund access in Europe, offering strategies in euros, pounds, and U.S. dollars. Tokens are minted on Ethereum via JPMorgan’s Kinexys, connecting on-chain activity with traditional financial systems. Each token represents one fund share, with transfers facilitated through smart contracts. Shares are available exclusively to professional and qualified clients. This week, BlackRock also issued tokenized money market funds for stablecoin reserves on Solana, Ethereum, and Tempo. Market developments underscore the accelerating integration of blockchain technology into institutional finance.
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