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ETH 
SOL BlackRock enters blockchain finance, and Solana becomes a key link.
BlackRock, the world's largest asset management company, is further deploying the blockchain finance field, and Solana is carrying this strategy. One of the blockchain networks. Recently, BlackRock submitted an application with the U.S. Securities and Exchange Commission (SEC) to launch the "BlackRock Daily Reinvestment Stablecoin Reserve Vehicle", a tokenized money market fund with the trading code RSVXX. Money market funds are low-risk funds that hold cash and short-term government debt to keep value stable. According to a July 31 filing, the fund will invest entirely in cash, short-term U.S. Treasury bonds and overnight repo agreements backed by those bonds.
Solana's Role
The fund records share ownership directly on the public blockchain rather than relying solely on traditional databases. The document lists three networks used by the fund: Ethereum, Tempo and Solana. Solana is a blockchain known for fast, low-cost transactions, and is therefore increasingly becoming an active platform for tokenizing real-world assets such as BlackRock funds. Tokenization company Securitize serves as the fund's transfer agent and is responsible for maintaining official records of who owns how many shares.
Fund design complies with the US Genius Act
The fund is designed to comply with the GENIUS Act's requirements for qualified reserve assets. The bill was passed by the United States in July 2025 and established rules for stablecoins pegged to the U.S. dollar. Simply put, stablecoin issuers can hold shares of BlackRock funds as part of their stablecoin reserves.
BlackRock deepens its tokenized finance layout
This move further deepens BlackRock's expansion in the tokenized finance field. In 2024, the company has partnered with Securitize to launch the first tokenized money market fund BUIDL. The fund's current assets have grown to approximately $2.5 billion and is increasingly used as collateral for lending and leveraged transactions in the cryptocurrency market.
