Overview
- BlackRock submitted SEC paperwork to add an Ethereum-based share class to its Select Treasury Based Liquidity Fund and to launch the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle.
- The stablecoin reserve vehicle would issue permissioned on-chain shares across multiple public blockchains, with Securitize Transfer Agent LLC keeping the official owner records and a $3 million minimum for investors.
- The Treasury fund’s new share class would use ERC-20 tokens on Ethereum, and BNY Mellon Investment Servicing would maintain the register that links wallet addresses to verified investor identities.
- The structure pairs blockchain settlement with off-chain identity checks so token transfers reflect compliant ownership, aiming to deliver faster transfers, 24/7 access, and use of shares as on-chain collateral.
- Tokenized real-world assets now top $30 billion after rapid growth, and analysts say BlackRock’s designs could fit future stablecoin reserve rules such as those floated in the GENIUS Act.