BlackRock Launches Tokenized Money-Market Funds Targeting Stablecoin Investors

BlackRock is expanding its presence in the tokenized money-market fund space by filing a prospectus for two new products: the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV).

The BUIDL fund will invest 100% of its assets in cash, U.S. Treasury bills, notes, and other Treasury obligations with maturities of 93 days or less.

The BRSRV fund is designed for investors using crypto wallets and stablecoins across multiple blockchains, providing a way to route Treasury-backed yield through blockchain-adjacent rails while keeping the underlying exposure inside a regulated fund wrapper.