BlackRock rolls out two tokenized funds aimed at stablecoin issuers and institutions

BlackRock, the world's largest asset manager with $15.34 trillion in assets under management as of July 15, 2026, has launched two tokenized fund share offerings designed to move institutional cash management and stablecoin reserve strategies onchain. The launch follows filings submitted to the U.S. Securities and Exchange Commission (SEC) on May 8, 2026. The first product, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), is a multichain tokenized money market fund (tMMF) built for stablecoin issuers and digital-native institutions seeking yield on reserve assets. The portfolio is focused on cash, short-term U.S. Treasuries and overnight repurchase agreements, with dividends reinvested daily. BlackRock is partnering with Securitize for tokenization. The second, the BlackRock Select Treasury Based Liquidity Fund (BSTBL), will run exclusively on Ethereum and is set to bring one of BlackRock's existing institutional funds—valued at $6.1 billion—into the digital asset ecosystem. The strategy targets similarly liquid, ultra-low-risk holdings, and BNY Mellon will serve as the tokenization provider. BlackRock said both offerings are consistent with the GENIUS Act framework, which requires stablecoin issuers to back tokens 1:1 with high-quality, low-risk reserves. Together with BlackRock's multichain flagship tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), the additions lift the firm's tokenized lineup to three funds. The launch comes shortly after BlackRock's latest earnings report, released a little more than two weeks ago, showed revenue rising 31% year over year. The firm's AUM also reached a record high, reflecting market leadership and client demand. In tokenized funds, competitors cited include Ondo Finance and Franklin Templeton. Data from rwa.xyz show the broader tokenized real-world asset (RWA) market has expanded to $37.29 billion, up from $25.4 billion at the start of the year.