BlackRock filed SEC registration documents for two new tokenized money market funds, BSTBL and BRSRV, on May 8, 2026. BSTBL is an Ethereum-based share class of BlackRock’s Select Treasury Based Liquidity Fund, which manages between $6.1 and $7 billion in cash and short-term US Treasury investments, with fees of 0.27% after waivers and BNY Mellon serving as transfer agent. BRSRV is a multi-chain vehicle specifically engineered for stablecoin reserve eligibility, holding cash and short-term Treasury assets. Both products, built on the BUIDL model launched in March 2024 that manages nearly $2.5 billion in assets, require full SEC approval before launch.
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