Overview
- BlackRock submitted SEC filings to add an onchain share class to its Select Treasury-Based Liquidity Fund and to launch a new BlackRock Daily Reinvestment Stablecoin Reserve Vehicle.
- The tokenized BSTBL class would run on Ethereum using the ERC-20 standard, with BNY Mellon keeping the official shareholder records on a system tied to the blockchain.
- BRSRV is designed for multiple blockchains, invests only in cash, short-term U.S. Treasurys, and overnight Treasury repo, and sets a $3 million minimum investment.
- Both offerings use permissioned issuance that links wallet addresses to verified owners, with Securitize and BNY Mellon maintaining the offchain identity records that serve as the legal register.
- Analysts say the design could supply compliant, yield-bearing reserves for stablecoin issuers, building on BlackRock’s $2.4–$2.5 billion BUIDL fund in a tokenized asset market now above $30 billion.