BlackRock Tokenizes $311 Billion in European Money Market Fund Shares
2026-08-04 11:44
Odaily News – BlackRock has launched tokenized share classes for European money market funds, covering six funds under the BlackRock Institutional Cash Series, with combined assets of $311 billion. This marks BlackRock's first offering of on-chain fund access in Europe, encompassing distributing and accumulating share classes across euro, pound sterling, and dollar strategies.
The related tokens are minted on Ethereum via Kinexys, the blockchain division of JPMorgan, which handles minting and burning while connecting on-chain activity with traditional shareholder registry systems. Each token represents one share of the underlying fund, with the official shareholder register still maintained by the fund's transfer agent.
Smart contracts allow holdings to be transferred between wallets of approved investors, and these share classes are offered to professional and qualified clients only—not to retail investors. Earlier this week on Monday, BlackRock also launched tokenized money market funds for stablecoin reserve management on Solana, Ethereum, and Tempo, the latter being a Stripe subsidiary.
The related tokens are minted on Ethereum via Kinexys, the blockchain division of JPMorgan, which handles minting and burning while connecting on-chain activity with traditional shareholder registry systems. Each token represents one share of the underlying fund, with the official shareholder register still maintained by the fund's transfer agent.
Smart contracts allow holdings to be transferred between wallets of approved investors, and these share classes are offered to professional and qualified clients only—not to retail investors. Earlier this week on Monday, BlackRock also launched tokenized money market funds for stablecoin reserve management on Solana, Ethereum, and Tempo, the latter being a Stripe subsidiary.
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