BlackRock Launches 2 Tokenized Money Funds, Seeks License Under GENIUS Act

BlackRock has unveiled two new tokenized money market assets as it further develops its digital asset strategy. It is now aiming to meet the standards set by the GENIUS Act to be considered a reserve asset. The products have been previously submitted to the U.S. Securities and Exchange Commission (SEC) in May and will be targeted at the growing crypto stablecoin market.

Inside BlackRock’s New Tokenized Money Market Funds

The world’s largest asset manager has released onchain shares of BlackRock Select Treasury Based Liquidity Fund (BSTBL) on Ethereum. The firm also introduced the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) that provides dividend reinvestment every day and can be accessed on various blockchain networks.

BlackRock says both products will be able to be used as a reserve asset for the permitted U.S. payment stablecoin issuers in accordance with the GENIUS Act. Digital asset infrastructure firm Securitize will act as the transfer agent and tokenization provider for BRSRV.

The latest launch builds on BlackRock’s tokenization strategy, which focuses on bringing traditional financial products onto blockchain networks. The idea behind tokenization is to digitize assets like money market funds, bonds and stocks to make them easier to settle, transparent and accessible to markets at any time.

In 2024, BlackRock entered the tokenized fund market with the launch of BUIDL, which it has created in collaboration with Securitize. The fund has grown to today’s size of around $2.5 billion and is a popular choice around the cryptocurrency field for collateral on lending and leveraged trading.

What Do Executives Say?

BlackRock’s plans for the stablecoin arena were emphasized by the company’s Chief Financial Officer, Martin Small during its second quarter 2026 earnings call. “We already manage $60 billion of reserves for Circle, representing about a quarter of the $300 billion stablecoin market. We see lots of growth ahead in stablecoin and we want to be the reserve manager of choice,” Small said during the call.

The asset manager’s growing efforts reflect the rising demand for tokenized financial products. U.S. money market funds have more than $8.4 trillion in assets, and BlackRock’s Cash Management Group has nearly $1.073 trillion worth of cash strategies for corporate, financial institution, foundation, insurance and public sector clients.

Jon Steel, the Global Head of Product and Platform for BlackRock’s Cash Management business, also commented on the new offerings. He said: “As demand grows for high-quality reserve assets to support stablecoins and other tokenized financial products, these funds provide clients with additional choice in how they access and use money market fund investment solutions across traditional and digital markets.”

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