BlackRock Plans to Launch Two Tokenized Money Market Funds for Stablecoin Holders

Odaily Planet Daily News: BlackRock is planning to launch two money market funds aimed at investors holding cash in stablecoins. The company has filed documents to introduce 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 bills, notes, and other securities with a remaining maturity of no more than 93 days. The related tokenized securities will be offered on the Ethereum blockchain and will operate in parallel with existing traditional share classes. (Bloomberg)