BlackRock filed two tokenized money market funds with the SEC, aiming to serve as reserve assets for stablecoin issuers under the GENIUS Act. The funds offer onchain shares and multi-chain access.
BlackRock filed two new tokenized money market products with the Securities and Exchange Commission in May, the firm said Monday, deepening its push into blockchain-based finance.
The asset manager is offering onchain shares of the BlackRock Select Treasury Based Liquidity Fund, a tokenized share class on Ethereum tied to an existing money market fund. A second vehicle, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, will reinvest dividends daily and work across multiple blockchains, according to a BlackRock press release.
Both funds are designed to qualify as eligible reserve assets for permitted U.S. payment stablecoin issuers under the GENIUS Act, the firm said.
"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," Jon Steel, global head of product and platform for BlackRock's cash management business, said in the release.
BlackRock Chief Financial Officer Martin Small told analysts during the company's Q2 2026 earnings call that the firm wants to be the stablecoin reserve manager of choice. "We already manage $60 billion of reserves for Circle, representing about a quarter of the $300 billion stablecoin market. We see lots of growth ahead in stablecoin and we want to be the reserve manager of choice," Small said.
The move comes as money market funds have grown to more than $8.4 trillion in assets. BlackRock's cash management group oversees roughly $1.073 trillion in cash strategies for corporations, banks, foundations, insurers and public funds.
Tokenization advocates say the technology can speed settlement and enable round-the-clock trading. BlackRock's latest funds are built on Ethereum, the dominant blockchain for tokenized assets. The tokenized fund sector has seen growing interest from issuers and exchanges, with products like Tokenized QQQ driving record volumes this year.
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