coindesk.com
BlackRock, the world’s largest asset manager, has expanded its tokenized cash platform, introducing a couple of new tokenized money market products, the firm said on Monday.
Back in May of this year, BlackRock filed for the new products with the U.S. Securities and Exchange Commission (SEC).
BlackRock is offering onchain shares of the BlackRock Select Treasury Based Liquidity Fund (BSTBL), a tokenized share class on Ethereum for an existing BlackRock money market fund. In addition, a new BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) has also been unveiled with daily dividend reinvestment and access across multiple blockchains, said BlackRock in a press release.
Both funds intend to qualify as eligible reserve assets for permitted U.S. payment stablecoin issuers under the GENIUS Act, the asset manager said.
The move deepens BlackRock’s push into tokenized finance, blockchain-based representations of traditional financial assets such as funds, bonds or equities. Advocates say the technology can speed up settlement, enable round-the-clock trading and improve transparency.
BlackRock Chief Financial Officer Martin Small said during the recent Q2 2026 Earnings Call that the financial giant wants to be the stablecoin reserve manager of choice in the industry. “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.
U.S. money market funds have grown to more than $8.4 trillion in assets. BlackRock's Cash Management Group oversees nearly $1.073 trillion in cash strategies for a range of corporations, banks, foundations, insurance companies, and public funds.
“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,” said Jon Steel, Global Head of Product and Platform for BlackRock's Cash Management business.