Blackrock's Tokenized Funds Hit $2. 93B Onchain as Ethereum Leads With $1. 1B
Blackrock now manages $2. 93 billion in tokenized assets onchain, with Ethereum leading the pack ahead of Avalanche, Solana, and BNB Chain. Key TakeawaysBlackrock’s tokenized funds hold $2. 93B onchain, led by. . .
Blackrock now manages $2. 93 billion in tokenized assets onchain, with Ethereum leading the pack ahead of Avalanche, Solana, and BNB Chain. Key TakeawaysBlackrock’s tokenized funds hold $2. 93B onchain, led by Ethereum at $1. 1B. Moody’s rated the $2. 58B BUIDL fund AAA-mf in 2026, its top grade for a tokenized money market product. Blackrock filed with the SEC on May 8 for two new tokenized funds, BSTBL and BRSRV, aimed at stablecoin holders. A Multichain Footprint Anchored by BUIDLThe bulk of Blackrock’s onchain assets sit in the Blackrock USD Institutional DigitalLiquidityFund (BUIDL), the tokenized money market fund it launched with issuance platform Securitize in 2024. The fund holds cash, U. S. Treasury bills, and repurchase agreements, and represents investor shares asblockchaintokens that can settle around the clock. BUIDL began on Ethereum and has since expanded across eight networks, includingSolana, Polygon, Avalanche, Arbitrum, Optimism, Aptos, andBNBChain. Access remains restricted to qualified purchasers, with minimum investments of $5 million for individuals and $25 million for institutions. Blackrock has been explicit about the strategy with the firm namingcryptoand tokenization as themes “driving markets in unprecedented ways” in its 2026 outlook, and Chief Executive Larry Fink repeatedly framing tokenization as the next stage of market infrastructure. Moreover, asBitcoin. comNews reported recently,Moody’s assignedBUIDL its top AAA-mf money market rating when the fund held $2. 58 billion in assets under management, a stamp institutional allocators typically require before committing capital. New Funds Target Stablecoin CashThe $2. 93 billion figure also captures Blackrock’s newer products, as the asset managerfiledwith the Securities and Exchange Commission (SEC) on May 8 to launch two additional tokenized money market funds, namely BSTBL on Ethereum and BRSRV across multipleblockchains. Both invest in cash and short-term U. S. Treasuries and are designed to givestablecoinissuers and holders a regulated way to earn yield on reserves. That positions Blackrock to capture cash that already lives onchain. Stablecoinshold well over $100 billion in aggregate reserves, and issuers have increasingly parked backing assets in tokenized Treasury products rather than traditional accounts. The Tokenization Race AcceleratesFrom the outside looking in, Blackrock’s growth tracks a broader boom. The tokenized real-world asset (RWA) market, for instance, has climbed to roughly$34. 5 billion, doubling over the past year, while tokenized U. S. Treasury products recentlysurpassed $15. 20 billion(with BlackRockand Circle leading inflows). Ethereum remains the dominant settlement layer for the sector, hosting the majority of tokenized fund value across issuers. Competition is thickening as well, with JPMorgan preparing asecond tokenized Treasury fundon Ethereum and Circle’s USYCtopping $3 billion. Moreover, the Depository Trust and Clearing Corporation (DTCC) has enlisted Blackrock and Goldman Sachs for a July pilot tokenizing Russell 1000 stocks and Treasuries. Each entrant reinforces the same thesis, i. e. money market cash and collateral are moving onchain first. Looking ahead, SEC approval and launch timing for BSTBL and BRSRV will determine how fast Blackrock’s onchain total climbs from here and whether the firm can convert its early lead in tokenized cash management into the kind of dominance it already enjoys in exchange-traded funds (ETFs).