BlackRock Expands On-Chain Finance Presence with New Tokenized Fund Offerings

BlackRock's latest filing with the US SEC has revealed plans to introduce a new fund called the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle.

The fund will invest in cash, short-term U.S treasury securities, and overnight repurchase agreements backed by treasuries, issuing 'OnChain Shares' connected to multiple public blockchains.

This move highlights the growing trend of tokenization in mainstream finance as asset managers seek to bring traditional securities onto blockchain networks for faster transfers and around-the-clock trading.