The Reserves Race Begins

Together with KR1 - An Ethereum focused digital asset technology company, listed on the London Stock Exchange.

BlackRock filed with the SEC on May 8 to launch two new tokenized money market funds, BSTBL and BRSRV, designed for use as reserve assets by stablecoin issuers under the GENIUS Act. BSTBL is a new digital share class of the existing $6.1 billion BlackRock Select Treasury Based Liquidity Fund and will launch on Ethereum only, with total fees of 0.27% after waivers through June 30, 2026. BRSRV (BlackRock Daily Reinvestment Stablecoin Reserve Vehicle) is a newly created multi-chain tokenized money market fund aimed at investors who hold cash in stablecoins and prefer self-custody. Both funds invest exclusively in cash, US Treasury bills, and overnight government-secured repurchase agreements with maturities of 93 days or less. The filings add to BlackRock's BUIDL fund, launched in March 2024. Source.