BlackRock (BLK) dual token fund launched under GENIUS Act, and its share price rose strongly

Key Points

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Key Points

BlackRock launched a tokenized treasury bond fund BSTBL on the Ethereum network, as well as a BRSRV fund designed specifically for digital asset companies and stablecoin operators. Both products are designed to comply with GENIUS Act requirements and can be used as compliant stablecoin reserve assets. The move builds on the success of BUIDL, which has attracted approximately US$2.5 billion in assets. BlackRock shares rose 1.90%.

BSTBL: Digitalizing Treasury Funds on the Ethereum Network

BlackRock launched BlackRock's Selected Treasury Liquidity Fund Chain Share, code-named BSTBL. This innovation share category transforms existing money market instruments into blockchain-accessible products for qualified institutional participants. Bank of New York Mellon (BNY) serves as a transfer agent and provider of tokenized infrastructure while maintaining official shareholder records. The fund's investment range includes cash, short-term U.S. Treasury instruments and overnight repo agreements backed by Treasury bonds. BSTBL aims to generate current income for authorized investors while ensuring liquidity and capital stability. As a result, BlackRock provides blockchain-based access while maintaining the fund's prudent cash management approach. Eligible participants can transfer these digital shares between approved wallets while complying with regulatory requirements and fund restrictions. This feature is expected to increase settlement speed and facilitate integration with authorized digital asset infrastructure. However, BlackRock will maintain traditional fund governance, investor verification processes and standard money market safeguards.

BRSRV: Designed specifically for digital asset companies and stablecoin operators

BlackRock also launched a daily reinvestment stablecoin reserve fund, code-named BRSRV, to meet the needs of blockchain native organizations. The fund has automatic daily dividend reinvestment capabilities and can run on multiple blockchain protocols. Securitize serves as the fund's transfer agent and tokenization platform. BRSRV's portfolio includes cash equivalents, short-term treasury instruments and overnight repo agreements backed by treasury bonds. BlackRock designed the fund to meet eligibility criteria under the GENIUS Act. Therefore, authorized payment stablecoin providers can use the instrument for compliant and liquid reserve holding. This product broadens BlackRock's solutions in the stablecoin reserve space beyond traditional cash deposits and existing institutional arrangements. The company currently manages a large reserve portfolio for Circle, which issues USDC stablecoins. BRSRV provides BlackRock with additional channels into regulated digital payment systems and blockchain treasury bond management.

Following the success of BUIDL, it relies on the advantages of the cash platform to expand

BlackRock and Securitize are the first to launch the tokenized money market product BUIDL in 2024. The product has cumulatively attracted approximately $2.5 billion in assets and facilitated collateral operations across the digital asset ecosystem. This performance proves the huge demand of institutional investors for traditional short-term tools based on blockchain-based. The new product leverages BlackRock's extensive cash management infrastructure and diversified institutional client network. The company's cash management group manages nearly $1.073 trillion in assets for corporations, financial institutions, insurance companies, endowments and government entities. At the same time, the assets of U.S. money market funds have exceeded US$8.4 trillion. As financial institutions attempt to use blockchain for the settlement of investment vehicles, debt instruments and other securities, tokenized real-world assets have flourished. The scale of this field has exceeded US$30 billion, with a growth rate of more than 200% in the past 12 months. BlackRock's latest products contribute a regulated cash solution to this momentum while consolidating the stablecoin payment infrastructure.