BlackRock Launches Solana Tokenized Fund For Stablecoin Reserves
BlackRocklaunched the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) alongside tokenized on-chain shares of its BSTBL fund on Solana,Ethereum, and Tempo. The fund invests entirely in cash,. . .
BlackRocklaunched the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) alongside tokenized on-chain shares of its BSTBL fund on Solana,Ethereum, and Tempo. The fund invests entirely in cash, short-term U. S. Treasury securities, and overnight repurchase agreements backed by Treasuries, and does not invest in cryptocurrencies. The product targets institutional investors with a $3 million minimum initial investment, and wallets must be whitelisted and tied to verified identities. The fund is structured to qualify as an eligible reserve asset under the GENIUS Act, the U. S. law governing payment stablecoins. BlackRocklaunched a tokenized money market fund on Solana, expanding its on-chain cash management offerings for stablecoin reserves. The world’s largest asset manager debuted the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV) alongside tokenized shares of its existing BSTBL fund, asannounced Monday. - Advertisement -The fund records ownership on Solana, Ethereum, and Tempo, with shares held through approved wallets managed by transfer agentSecuritize. According to aprospectus filed with the SEC, the fund invests solely in cash, short-term U. S. Treasuries, and overnight repurchase agreements backed by Treasuries. “Cash remains a foundational building block for investors, corporations, and financial institutions,”said Jon Steel, Global Head of Product and Platform for BlackRock’s Cash Management business. “As demand grows for high-quality reserve assets to support stablecoins and other tokenized financial products, these funds provide clients with additional choice. ”BlackRock emphasized the fund will not invest in digital assets or virtual currencies, and wallets must be whitelisted with verified identities. The fund also carries a $3 million minimum initial investment and restricts transfers or allows freezing of tokenized shares. The launch builds on BlackRock’s earlier BUIDL tokenized money market fund, which now manages over$2. 6 billion in assets. BlackRock joinsMorgan StanleyandFidelityin introducing products for stablecoin reserve management following the passage of the GENIUS Act. - Advertisement -✅ FollowBITNEWSBOTonTelegram,Facebook,LinkedIn,X. com, andGoogle Newsfor instant updates. Previous Articles:Robinhood Opens Venture Capital Fund to Everyday InvestorsAmazon Gains $560B in Market Cap as SpaceX PlummetsBlackRock launches tokenized funds for stablecoin reservesBlackRock launches tokenized money market fund on EthereumBitmine buys 10,399 ETH, now holds 5. 8M EthereumStay in the Loop🔥Join 1. 2K Smart TradersGet exclusive crypto insights, breaking news, and market analysis delivered straight to your inbox. No fluff, just facts.