BlackRock plans to launch two tokenized money market funds for stablecoin holders

Odaily reports that BlackRock is planning to launch two money market funds for investors holding cash in stablecoins. The company has filed documents to create a digital share class for the approximately $6.1 billion BlackRock Select Treasury Based Liquidity Fund (BSTBL). The fund primarily invests in cash, U.S. Treasury notes, bills, and other securities with a remaining maturity of no more than 93 days. The relevant tokenized securities will be offered on the Ethereum blockchain and will operate in parallel with existing traditional share classes. (Bloomberg)