The asset manager is adding blockchain-based share classes to select BlackRock Institutional Cash Series funds, extending digital-asset technology into mainstream cash management products.
BlackRock Inc. is introducing tokenized versions of select existing BlackRock Institutional Cash Series money market funds in Europe, widening the use of blockchain-based infrastructure in traditional finance. The company said the funds involved manage a combined $311 billion in assets, and the new offering will cover sterling, euro and US-dollar-denominated share classes. The move signals continued efforts by major Wall Street firms to apply digital-asset technology to established financial products, particularly in areas such as cash management where tokenization can streamline record-keeping and broaden access to onchain settlement rails.