BlackRock Launches New Tokenized Money Market Funds to Support Stablecoin Reserves

BlackRock unveiled two new tokenized money market products on Monday, deepening its push into blockchain based financial infrastructure. The firm first filed for these offerings with the Securities and Exchange Commission back in May.

Two New Fund Structures Introduced

The company introduced onchain shares of the BlackRock Select Treasury Based Liquidity Fund, a tokenized version of an existing BlackRock money market fund built on Ethereum. Alongside it, BlackRock launched a new Daily Reinvestment Stablecoin Reserve Vehicle, which offers daily dividend reinvestment and works across multiple blockchain networks. Both products are designed to qualify as approved reserve assets for licensed U.S. stablecoin issuers under the GENIUS Act.

Positioning for a Growing Stablecoin Market

The launch builds on BlackRock’s broader tokenization strategy, which supporters say can speed up settlement times, allow continuous trading and improve transparency for traditional financial assets. Chief Financial Officer Martin Small said during the company’s recent earnings call that BlackRock already manages $60 billion in reserves for Circle, roughly a quarter of the stablecoin market, and aims to become the industry’s leading reserve manager as demand grows.

Scale of BlackRock’s Cash Business

U.S. money market funds now hold more than $8.4 trillion in total assets, while BlackRock’s Cash Management Group oversees close to $1.073 trillion across corporate, banking and institutional clients.