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BlackRock Plans Tokenized Share Class for $6.1 Billion Treasury Liquidity Fund on Ethereum

According to SEC filings, BlackRock plans an Ethereum-based tokenized share class for its $6.1 billion Treasury liquidity fund and a separate multi-chain reserve vehicle, expanding its push into tokenized real-world assets.

ETH
BUIDL

Fact Check
The claim is strongly supported by a Bloomberg article from May 8, 2026 — confirmed as existing on Bloomberg's own crypto news index page — which is the named primary source. The PANewsLab article directly links to this Bloomberg piece and provides granular fund details (names, Ethereum issuance, multi-chain structure) that are independently echoed by Bitget News and KuCoin Flash on the same date. All specific claim elements — two funds, one Ethereum-issued Treasury fund, one multi-chain stablecoin reserve fund — are consistently corroborated across sources. The slight residual uncertainty (0.07) reflects the inability to directly access the Bloomberg paywall article and the fact that the secondary sources all trace to a single Bloomberg report, meaning any error in that report would propagate. However, Bloomberg's track record and the coherence of the details with BlackRock's established BUIDL fund and tokenization strategy make the claim highly credible.
Summary

BlackRock filed with the SEC on May 8 to launch two tokenized money market products: a blockchain-based share class of its $6.1 billion BlackRock Select Treasury-Based Liquidity Fund on Ethereum and a new multi-chain product called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle. The BSTBL share class will invest 100% in cash, U.S. Treasury bills, and overnight government-secured repurchase agreements, with a dollar-weighted average maturity of 60 days or less under Rule 2a-7. The BRSRV vehicle is structured as a treasury-backed money market fund aimed at the crypto-native market and focused on short-term U.S. government obligations with maturities under 93 days. The filings come as BlackRock expands its tokenized finance strategy, with rwa.xyz data showing the tokenized asset market above $30 billion and BlackRock’s BUIDL fund valued at more than $2.4 billion.

Terms & Concepts
  • Tokenized money market funds: Money market products whose shares or ownership interests are issued or represented on blockchain networks rather than only through traditional financial infrastructure.
  • Real-world assets (RWA): Traditional assets such as Treasuries or cash-linked products that are represented on blockchain networks for digital trading, settlement, or ownership tracking.
  • Stablecoin: A digital asset designed to maintain a stable value, often by referencing a fiat currency and using reserve assets to support redemption.