On May 8, 2026, BlackRock filed two applications with the U.S. SEC as part of its ongoing expansion into tokenized finance, strengthening the firm’s increasing commitment to enter blockchain-based investment products after the launch of its BUIDL fund in 2024.
The BlackRock Daily Reinvestment Stablecoin Reserve Vehicle is structured to hold cash, short-term U.S. Treasury securities, and overnight repurchase conditions backed by Treasuries.
According to Crypto Politan, the Records of Ownership for the shares would be managed by Securitize Transfer Agent LLC, the product’s official transfer agent. BlackRock also demonstrated that the fund may issue blockchains as “On Chain Shares” on multiple public blockchain markets.
Conversely, the filing did not indicate which blockchain framework would be backed at launch. The fund requires a minimum investment of $3 million, limiting access to institutional investors.
Meanwhile, the second filing addresses the BlackRock Select Treasury Based Liquidity Fund (BSTBL), a traditional money market which holds approximately $87 billion. Moreover, BNY Mellon Investment Servicing is projected to have a stable shareholder record on Ethereum blockchain (TC) using the ERC-20 token standard.
This strategy would position one of BlackRock’s largest cash-management products onto the blockchain market while tying off-chain identity verification as the authorized shareholder registry.
BUIDL Strategy
The BlackRock filing has advanced its strategy alliance with Securitize to promote BUIDL, the first tokenized money-market fund.
BUIDL has gained approximately $2.5 billion in assets and has earned unprojected momentum as collateral for borrowing with utilized trading across crypto space.
Larry Dink, CEO of BlackRock, has previously debated that blockchain settlement networks could reduce transaction cycles, allow 24/7 trading, and enhance visibility to capital markets. The two filings show that the firm is seeking a deliberation and a major scale for long-term tokenization strategy.
RWA Is Increasingly Expanding
According to the data from rwa.xyz, the alliance from Boston Consulting group and Ripple predicted the market could reach $18.9 trillion by 2033. The application reaches as tokenized real-world asset (RWA) industry of about $30 billion in total value.
As of May 2026, the tokenized U.S. Treasuries has rapidly increased, obtaining a priced of $14 billion, showing increasing institutional interest for blockchain-based fixed-income products.
BlackRock and Circle have evolved as key drivers of the adoption of on-chain treasury products amidst institutional investors. Additionally, Ethereum (ETH) is recently holding more than half of the tokenized Treasury market, valued at about $8 billion.
BlackRock holds $14 trillion globally and is not limited to traditional asset manager analyzing tokenization and the RWA market. Moreover, the two (2) filing submitted in the U.S. SEC are being closely watched by regulators, competitors, and crypto-native firms as a strong signal of expanding institutional commitment to digital asset network.
Although the two applications have been submitted to the U.S SEC, no definite date has been verified for either fund.
