Bloomberg writes, "BlackRock Readies Launch of Two Tokenized Money-​Market Funds." The piece tells us, "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." It says, "The other vehicle, BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (​BRSRV), will be a newly created tokenized money-​market fund aimed at a growing class of investors who manage their finances through crypto wallets and stablecoins, as opposed to traditional brokerages. The fund will be launching on multiple blockchains, according to the Friday filing with the US Securities and Exchange Commission." Bloomberg adds, "The market value of tokenized assets has surged about 410% since 2025 to roughly $​31 billion, according to data provider rwa.​xyz. While the sector remains small compared with the trillions of dollars held in mutual funds and exchange-​traded funds, proponents see growth continuing. BlackRock was among the early movers in the space with its blockbuster fund, BlackRock USD Institutional Digital Liquidity Fund (​ticker BUIDL), now at roughly $​2.​5 billion."

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