BlackRock expanded its on-chain product line on August 3, 2026 with two tokenized money market offerings aimed at stablecoin issuers, following an SEC prospectus filing on August 1.
The two products
- BRSRV — the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, designed specifically as a reserve asset for stablecoin issuers. Dividends reinvest daily.
- BSTBL — tokenized on-chain shares of BlackRock's existing Select Treasury-Based Liquidity Fund.
Both invest only in cash, short-term U.S. Treasuries and Treasury-backed overnight repurchase agreements, with no exposure to crypto assets. Securitize is the transfer agent and tokenization provider, and each requires a $3 million minimum initial investment.
Built for the GENIUS Act
BRSRV is structured to qualify as an eligible reserve asset for permitted payment stablecoin issuers under the GENIUS Act, the U.S. stablecoin law signed in July 2025. Its multi-chain design lets an issuer hold reserve liquidity natively on the same network where its stablecoin lives — including Ethereum and Solana — rather than shuttling money back to traditional rails.
Why it matters
Stablecoin reserves are one of the largest pools of short-term Treasury demand in crypto. By tokenizing the reserve itself, BlackRock is positioning to become the default cash manager for regulated stablecoins.
