BlackRock to Launch Two Tokenized Money Market Funds Focused on Crypto Users

• BlackRock has filed documents to launch two tokenized money market funds.
• One product will operate on Ethereum, while the other will launch across multiple blockchains.
• The company is targeting stablecoin users and crypto wallet holders.

According to Bloomberg, citing filings submitted to the U.S. Securities and Exchange Commission (SEC), BlackRock is preparing to launch two tokenized money market funds designed for investors who store funds in stablecoins and crypto wallets instead of traditional bank accounts.

A money market fund invests in cash, cash equivalents, and short-term debt securities.

BlackRock explained that the product is intended as a liquidity management investment solution designed to provide portfolio diversification, liquidity, and operational convenience.

The first product introduces a digital share class for the BlackRock Select Treasury Based Liquidity Fund (BSTBL), which manages approximately $6.1 billion in assets.

The fund invests in cash, U.S. Treasury bills, bonds, and other short-term securities with maturities of up to 93 days.

The tokenized BSTBL shares will operate on the Ethereum network alongside traditional share classes.

The second product is the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV).

It is a new tokenized money market fund aimed at users managing assets through crypto wallets and stablecoins.

According to the filings, the fund is expected to launch across multiple blockchains.

Bloomberg noted that BlackRock views the digital dollar segment as a distinct and sustainable customer category.

As the stablecoin market continues to grow, issuers are seeking reserve instruments capable of meeting potential U.S. regulatory requirements while enabling around-the-clock settlements.

See also: "Bitwise Enters the Tokenized Fund Market by Acquiring USCC for $278 Million"

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