BlackRock Readies Launch of Two Tokenized Money-Market Funds

BlackRock Inc. is planning to launch two money-market funds built for investors who hold their cash in stablecoins, not bank accounts, a sign the world’s largest asset manager sees a durable customer base in the digital-dollar economy.

The New York-based firm submitted paperwork to debut a digital class of shares tied to the roughly $6.1 billion BlackRock Select Treasury Based Liquidity Fund (BSTBL), which invests in cash, US Treasury bills, notes and other securities with maturities of 93 days or less. The tokenized securities will be available on the Ethereum blockchain, and operate alongside the current traditional share classes.