BlackRock files two new SEC applications for tokenized funds on Ethereum
BlackRock has filed two new applications with the SEC to expand its range of tokenized funds. The world’s largest asset manager, overseeing $14 trillion, is pushing further into blockchain-based investments. Both proposals aim to bring traditional financial products onto public blockchains. The first application introduces the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle. This fund will invest in cash and short-term U.S. Treasuries, targeting stablecoin holders with idle capital. It follows the success of BUIDL, BlackRock’s initial tokenized fund, which launched in March 2024 and now manages over $2.5 billion across eight blockchains.
The second proposal tokenizes the BlackRock Select Treasury Based Liquidity Fund, a $6.1 billion money-market vehicle. If approved, it will trade on Ethereum and issue 'OnChain Shares' through a permissioned framework linked to multiple public blockchains. BNY Mellon Investment Servicing will handle shareholder records using the ERC-20 token standard, while Securitize Transfer Agent LLC will act as the official transfer agent.
Neither fund has yet received SEC approval, according to Friday’s filing. The new tokenized fund will require a minimum investment of $3 million. BlackRock’s move comes as the broader tokenized-Treasury market surpasses $14 billion, with Ethereum alone hosting over $8 billion in such assets. The two new funds would join BlackRock’s growing lineup of blockchain-based investment products. If approved, they will offer institutional investors a way to deploy stablecoin reserves into yield-generating assets. The SEC’s decision on the applications remains pending.
