According to Bloomberg Terminal, BlackRock recently submitted paperwork to launch two tokenized money-market funds designed for investors holding stablecoins instead of bank deposits. The digital asset class will be tied to BlackRock’s Select Treasury Based Liquidity Fund (BSTBL), which manages approximately $6.1 billion and invests in cash, U.S. Treasury bills, notes, and securities with maturities of 93 days or less. The tokenized securities will operate on the Ethereum blockchain alongside existing traditional share classes, signaling the world’s largest asset manager’s commitment to the digital-dollar economy.
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