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BlackRock Plans to Launch Two Tokenized Money Market Funds for Stablecoin Holders

On May 9, BlackRock is planning to launch two tokenized money market funds aimed at stablecoin holders, rather than traditional bank account customers. One will be a digital share class of the BlackRock Select Treasury Liquidity Fund, investing in cash, U.S. Treasury securities, and other securities maturing within 93 days, which will be issued on the Ethereum blockchain. The other will be a newly established BlackRock Daily Reinvestment Stablecoin Reserve Fund, targeting investors managing finances through crypto wallets and stablecoins, and will be launched on multiple blockchains. BlackRock CEO Larry Fink has repeatedly stated that all financial assets will eventually be tokenized. The BUIDL fund launched by BlackRock in 2024 currently has a size of approximately $2.5 billion.

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