BlackRock has launched a tokenized money market fund called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), alongside on-chain shares of its existing BlackRock Select Treasury-Based Liquidity Fund. The fund records ownership across Solana, Ethereum, and Tempo networks and invests exclusively in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by Treasuries. The product targets institutional investors with a $3 million minimum initial investment and requires verified identities for whitelisted wallets. BlackRock is building on its broader tokenization strategy, with its BUIDL fund launched in March 2024 now managing over $2.6 billion in assets.
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