BlackRock plans to launch two tokenized money market funds for stablecoin issuers as CEO Larry Fink ramps up tokenization.
The first proposed fund, called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, is a Treasury-backed money market fund built for blockchain-based ownership and transfer. It plans to invest in ultra-short-term U.S. government securities and repurchase agreements while issuing on-chain shares that will be held through approved crypto wallets.
Designed for the stablecoin ecosystem, BlackRock aims for the instrument to qualify as an eligible reserve asset under the GENIUS Act, the US law that establishes a framework for stablecoin payments. Stablecoin issuers and crypto-native institutions will be able to utilize the fund as part of their reserve-backed strategies while earning Treasury-based yields.
The second fund, BlackRock Select Treasury-Based Liquidity Fund, is designed to issue tokenized shares of BlackRock’s existing $6.9 billion Treasury Liquidity Fund on Ethereum.
market size
According to data from rwa.xyz, tokenized real-world assets have grown by approximately 410% since the beginning of 2025 to over $30 billion. The most dominant sector remains tokenized US Treasuries, with BlackRock’s BUIDL holding $2.4 billion of the total.
According to Fortune Business Insights’ April 2026 report, the global tokenization market was valued at approximately $4 billion in 2025 and is projected to reach $16 billion by 2034, expanding at a CAGR of 16.4% from 2026 to 2034.
The industry is benefiting from the rapid adoption of digital services and the increasing volume of electronic transactions around the world. Businesses are handling larger amounts of sensitive financial and personal data than ever before, increasing the demand for tokenization technologies that can reduce the risk of fraud, cyberattacks, and unauthorized access.
Increasing importance on payment security and regulatory compliance is also contributing to market expansion.
The surge in digital payments and e-commerce activity due to the pandemic has led organizations to increase their investments in secure payment infrastructure and data protection systems. This trend is expected to continue as consumers and businesses prioritize secure digital transaction environments across industries.
competition
JP Morgan launched its own tokenized money market fund MONY in December 2025. Coinbase recently launched a tokenized credit vehicle called CUSHY that competes directly with BUIDL and is built around on-chain yield sources including public credit, private financing, and structural alpha.
Nate Geraci, president of ETF Store, said investors should expect “more from top asset managers.”
