BlackRock launches tokenized money market fund on Solana and Ethereum

BlackRock has expanded its tokenization strategy by launching a new money market fund on Solana and Ethereum.

The new fund is designed for stablecoin reserves. It gives investors access to tokenized shares backed by cash and short-term U.S. Treasury assets.

The launch is another step in BlackRock's push to bring traditional financial products onto blockchain networks.

BlackRock Expands to Solana

The new product is called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV).

Alongside the launch, BlackRock also introduced tokenized on-chain shares of its BlackRock Select Treasury-Based Liquidity Fund (BSTBL).

According to the company, ownership of these funds is recorded on Solana, Ethereum, and Tempo. Investors will hold the shares through approved digital wallets managed by Securitize, the fund's transfer agent.

Fund Invests in Cash and U.S. Treasuries

BlackRock said the fund only invests in low-risk assets.

These include:

• Cash
• Short-term U.S. Treasury securities
• Overnight repurchase agreements backed by U.S. Treasuries

The company also confirmed that the fund does not invest in cryptocurrencies. Instead, it is designed to provide stable and secure reserve assets for stablecoin issuers and institutional investors.

Built for Stablecoin Reserves

BlackRock said the fund is structured to meet the requirements of the GENIUS Act, the new U.S. law covering payment stablecoins.

The goal is to give stablecoin issuers another option for holding reserve assets. However, the company noted that future regulatory changes could affect how these funds are used.

BlackRock also warned that blockchain outages or smart contract issues could interrupt transactions.

Strict Access for Investors

The fund is not open to everyone. Investors must use approved wallets linked to verified identities.

BlackRock's transfer agent can also restrict transfers or freeze tokenized shares if needed. The fund requires a minimum initial investment of $3 million.

BlackRock Continues Its Tokenization Push

The new launch builds on BlackRock's earlier tokenization efforts.

In 2024, the company introduced the BUIDL tokenized money market fund. That fund now manages more than $2.6 billion in assets.

BlackRock is also joining other major financial firms that are expanding into tokenized finance.

Companies such as Morgan Stanley and Fidelity have recently launched products aimed at supporting stablecoin reserves after the GENIUS Act became law.

Why This Launch Matters

BlackRock's latest move shows that large financial firms continue to invest in blockchain technology.

By bringing money market funds to Solana and Ethereum, the company is expanding the use of tokenized financial products beyond cryptocurrencies.

As more institutions explore tokenization, blockchain networks could play a bigger role in managing traditional financial assets.