BlackRock has launched two tokenized money market funds — BSTBL and BRSRV — on Ethereum and multiple other blockchains, the firm confirmed this week. The move marks the latest push by the world's largest asset manager into on-chain finance, bringing traditional yield products to a broader crypto-native audience.
What the funds are
BSTBL and BRSRV are tokenized versions of BlackRock's existing money market strategies. They're designed to offer investors exposure to short-term, high-quality debt instruments through blockchain-based tokens. The funds are available on Ethereum as well as several other networks, though BlackRock hasn't specified which chains beyond Ethereum.
Tokenized money market funds have been gaining traction as a way to bridge traditional finance and decentralized finance. By putting these products on-chain, BlackRock gives crypto investors a regulated, familiar yield option without leaving the blockchain ecosystem. The launch also signals growing institutional comfort with public blockchains for core financial products.
BlackRock hasn't announced a timeline for expanding the funds to additional chains or regions. But the move puts pressure on competitors to follow suit, especially as demand for tokenized real-world assets continues to climb. The SEC's stance on such products remains a key variable, though BlackRock's existing regulatory relationships may smooth the path.
