BlackRock Plans Two Tokenized Money-Market Funds for Stablecoin Investors
MT Newswires Live
May 09
BlackRock (BLK) is preparing to launch two tokenized money-market funds aimed at investors holding cash in stablecoins rather than traditional bank accounts, Bloomberg reported on Friday.
The asset manager filed to launch a digital share class tied to its roughly $6.1 billion BlackRock Select Treasury Based Liquidity Fund, which invests in cash and short-term U.S. Treasury securities.
The tokenized shares will operate on the Ethereum blockchain alongside existing traditional share classes.
BlackRock is also creating the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, a tokenized money-market fund designed for investors managing assets through crypto wallets and stablecoins.
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