BlackRock Tokenized Reserve Fund Receives Top Principal Stability Rating from S&P Global Ratings
2026-08-05 10:47
Odaily Planet Daily News S&P Global Ratings on Monday awarded its "AAAm" rating — the highest principal stability fund rating — to BlackRock's new tokenized money market fund, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV). The rating is based on investment and counterparty credit quality, maturity structure, and management's ability to maintain a stable net asset value.
S&P Global Ratings stated that it found no weaknesses in BlackRock Advisors' management and organization, credit research and analysis, risk management, or compliance. It also noted that the fund's tokenization framework demonstrates operational resilience, employing a permissioned architecture that restricts transactions to whitelisted wallets to mitigate network, smart contract, and blockchain network risks.
BRSRV was launched on Monday as an open-end management investment company, with its shares designed to meet the eligible reserve asset requirements for payment stablecoin issuers under the GENIUS Act. The fund will hold cash, U.S. Treasuries with maturities of 93 days or less, and overnight repurchase agreements collateralized by Treasury instruments, maintaining a weighted average maturity of no more than 60 days and a weighted average life of no more than 120 days.
In a separate stablecoin stability assessment summary released Tuesday, S&P Global Ratings said that 6 of the 11 stablecoins it covers possess "adequate" or stronger capacity to maintain their fiat peg. USDT remains at Level 5, rated "weak," with TUSD and USDe also at Level 5. USDC, EURC, USDG, and USDP are rated Level 2, "strong."
S&P Global Ratings stated that it found no weaknesses in BlackRock Advisors' management and organization, credit research and analysis, risk management, or compliance. It also noted that the fund's tokenization framework demonstrates operational resilience, employing a permissioned architecture that restricts transactions to whitelisted wallets to mitigate network, smart contract, and blockchain network risks.
BRSRV was launched on Monday as an open-end management investment company, with its shares designed to meet the eligible reserve asset requirements for payment stablecoin issuers under the GENIUS Act. The fund will hold cash, U.S. Treasuries with maturities of 93 days or less, and overnight repurchase agreements collateralized by Treasury instruments, maintaining a weighted average maturity of no more than 60 days and a weighted average life of no more than 120 days.
In a separate stablecoin stability assessment summary released Tuesday, S&P Global Ratings said that 6 of the 11 stablecoins it covers possess "adequate" or stronger capacity to maintain their fiat peg. USDT remains at Level 5, rated "weak," with TUSD and USDe also at Level 5. USDC, EURC, USDG, and USDP are rated Level 2, "strong."
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