BlackRock, one of the world’s largest asset management companies, has accelerated its moves in blockchain-based investment products with two new applications to the US Securities and Exchange Commission (SEC). The latest applications are considered to be the company’s biggest step in blockchain infrastructure products since BUIDL, the tokenized money market fund launched in 2024.
Details of two new funds
The first of the applications includes plans to establish a fund called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle. This fund will hold cash, short-term US Treasury bonds and treasury-backed overnight repo agreements in its portfolio. It is envisaged that participants will be offered “OnChain Shares” on the blockchain. Securitize Transfer Agent LLC will manage the shareholding records. While it is not disclosed which blockchains will be used, the minimum investment requirement of $ 3 million to enter the fund shows that it is only addressed to institutional investors.
The second application is for the money market fund called BlackRock Select Treasury Based Liquidity Fund (BSTBL), which is approximately $7 billion in size. BNY Mellon Investment Servicing will maintain shareholder records via Ethereum with the ERC-20 token standard. This will be the first time that one of BlackRock’s largest cash management products will be moved directly to a public blockchain.
BlackRock’s tokenization strategy
BlackRock took a pioneering role in tokenized traditional financial products with the BUIDL fund it launched in 2024 in partnership with Securitize. While the BUIDL fund reached a size of 2.5 billion dollars in a short time, it received corporate demand above expectations with its ancillary usage areas such as loan guarantee and leveraged transactions.
BlackRock CEO Larry Fink argues that blockchain-based settlements can speed up transactions, shorten transaction cycles and bring transparency to capital markets while enabling 24/7 trading. Recent applications indicate that the company has begun to implement this prediction in a scaled and conscious manner.
Both new funds have not yet received SEC approval and an official launch date has not been announced.
Growth momentum in the tokenized asset market
The applications coincide with the period when the RWA (Real World Asset) market, known as the tokenization of real assets, grew threefold on an annual basis and exceeded the level of 30 billion dollars. According to the joint projection of Boston Consulting Group and Ripple, the RWA market is predicted to reach $18.9 trillion in 2033.
Tokenized U.S. Treasury securities total $14 billion by May 2026, indicating a marked increase in interest in blockchain-based fixed income products in institutional portfolios. Among major financial institutions, BlackRock and Circle are leading the proliferation of on-chain treasury products. More than half of the market is on Ethereum, at approximately $8 billion.
BlackRock, which manages $14 trillion in assets globally, is not the first major institution to step into the RWA space. However, it is stated that two separate applications made on a single day are considered by regulatory authorities and other players in the industry as a strong signal about the seriousness of corporate blockchain investments.
