BlackRock has launched two tokenized money market funds, BSTBL and BRSRV, on the Ethereum network, expanding its stablecoin reserve offerings. The funds invest in cash, short-term US Treasuries, and ultrashort repurchase agreements to preserve liquidity and principal stability. The asset manager’s cash management group oversees roughly $1.1 trillion in cash assets, while the broader US money market fund market has grown to over $8.4 trillion. The move addresses rising demand for high-quality reserve assets to support stablecoins and other tokenized financial products, providing clients with new options across traditional and digital markets.
BlackRock has officially entered the tokenized asset space with the launch of two blockchain-based money market funds on the Ethereum network. The new funds, named BSTBL and BRSRV, are designed to maintain liquidity and principal stability by investing primarily in cash, short-term US Treasuries, and ultrashort repurchase agreements.
The introduction of these funds directly expands the firm’s role in supporting stablecoin reserves. According to the announcement, the products aim to serve investors, corporations, and financial institutions seeking secure, yield-bearing options in digital markets.
Jon Steel, Global Head of Product and Platform for BlackRock’s Cash Management business, emphasized the importance of cash as a foundational building block. “Cash remains a foundational building block for investors, corporations, and financial institutions,” he stated.
Steel noted that US money market funds have grown to more than $8.4 trillion in assets as investors continue prioritizing liquidity and capital preservation. He added, “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.”
BlackRock’s cash management group currently oversees approximately $1.1 trillion in cash assets for companies, banks, insurers, and public funds. The new Ethereum-based funds represent a strategic extension of this existing infrastructure into decentralized finance.
The launch signals continued institutional adoption of blockchain technology for traditional financial products. By tokenizing money market funds, BlackRock offers a regulated on-chain alternative for entities managing stablecoin collateral and other digital asset reserves.
The funds are structured to provide the same protective qualities as conventional money market instruments while operating on a public blockchain. This dual-market approach allows investors to move seamlessly between traditional and digital asset ecosystems without sacrificing yield or safety.
