BlackRock launches BSTBL and BRSRV tokenized money market funds

Aug 3, 2026

On August 3, 2026, BlackRock expanded its tokenized cash platform by introducing two new blockchain-based money market products: the BlackRock Select Treasury Based Liquidity Fund (BSTBL) on Ethereum and the multi-blockchain Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). Both funds aim to qualify as eligible reserve assets under the GENIUS Act. This move aligns with BlackRock's strategy to become the premier stablecoin reserve manager, building on its existing management of $60 billion in Circle reserves.

BlackRock tokenized fund products

▪Securitize serves as the transfer agent and tokenization provider for the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV).
▪BlackRock introduced the BlackRock Select Treasury Based Liquidity Fund (BSTBL) as a tokenized share class on Ethereum for an existing money market fund on August 3, 2026.
▪BlackRock filed for the BlackRock Select Treasury Based Liquidity Fund (BSTBL) and BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) with the U.S. Securities and Exchange Commission in May 2026.
▪BlackRock introduced the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) featuring daily dividend reinvestment and multi-blockchain access on August 3, 2026.

GENIUS Act reserve compliance

▪The BlackRock Select Treasury Based Liquidity Fund (BSTBL) intends to qualify as an eligible reserve asset for permitted U.S. payment stablecoin issuers under the GENIUS Act.

Stablecoin reserve management strategy

▪U.S. money market funds have grown to exceed $8.4 trillion in assets as of August 3, 2026.
▪BlackRock Chief Financial Officer Martin Small stated during the Q2 2026 earnings call that BlackRock aims to become the premier stablecoin reserve manager in the financial industry.
▪BlackRock's Cash Management Group oversees nearly $1.073 trillion in cash strategies for corporations, banks, foundations, insurance companies, and public funds.
▪BlackRock manages $60 billion of reserves for Circle, representing approximately 25% of the $300 billion stablecoin market as of Q2 2026.

Tokenized securities market growth

▪The tokenized real-world asset market grew more than 200% over the year preceding August 3, 2026, reaching a valuation of over $30 billion.
▪Citi projects that the tokenized securities market could reach $5.5 trillion in valuation by the year 2030.

BUIDL fund collateral usage

▪The BUIDL tokenized money-market fund has grown to approximately $2.5 billion in assets and is utilized as collateral for borrowing and leveraged trading.
▪BlackRock launched its first tokenized money-market fund, BUIDL, in partnership with Securitize in 2024.