BlackRock Launches BRSRV and BSTBL Tokenized Money Market Funds on Solana,

BlackRock has expanded its on-chain product suite with two tokenized money market offerings now available on Solana, Ethereum, and Tempo: the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (BRSRV), a new fund designed specifically to serve as a reserve asset for stablecoin issuers, and BSTBL (BlackRock Select Treasury-Based Liquidity Fund), an existing fund now offering tokenized on-chain shares. The products were announced August 3, 2026, following an SEC prospectus filing on August 1.

What BRSRV and BSTBL Do

BRSRV is a new money market fund built from the ground up for the on-chain economy. It invests exclusively in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by Treasuries, with no exposure to cryptocurrencies or digital assets. The fund is structured to qualify as an eligible reserve asset for permitted payment stablecoin issuers under the GENIUS Act, the U.S. stablecoin regulatory framework that took effect in July 2025. Shares automatically reinvest dividends daily, and the multi-chain architecture allows stablecoin operators to hold liquidity native to the same network where their stablecoin operates.

BSTBL brings tokenized shares of BlackRock's existing Select Treasury-Based Liquidity Fund onto public blockchains. Like BRSRV, it invests in cash, Treasuries, and repo agreements. The two products together give institutional clients distinct options: BRSRV is built specifically for stablecoin reserve management, while BSTBL is a tokenized version of an established fund with the same underlying strategy.

Both products require a $3 million minimum initial investment. Securitize is the transfer agent and tokenization provider for both funds. Investor wallets must be whitelisted and tied to verified identities; the transfer agent retains the ability to restrict, freeze, revoke, or reissue shares, standard features of regulated permissioned financial instruments.

Solana as an On-Chain Reserve Layer

The inclusion of Solana alongside Ethereum and Tempo reflects the network's growing position in institutional finance. For stablecoin issuers operating on Solana, BRSRV means reserves can remain on-chain and on-network, available for settlement and deployment without round-tripping funds to traditional banking rails. BlackRock's prospectus notes that additional blockchains may be added in the future.

Solana captured $10 billion in tokenized stock volume in June 2026 alone, representing 95% of global on-chain equity trading at the time. The broader tokenized RWA market has grown over 200% year-over-year to more than $30 billion. BlackRock's decision to make Solana a first-class deployment target for both funds reinforces the network's standing as institutional-grade infrastructure.

Building on BUIDL

The new products extend BlackRock's tokenization strategy, which began with the BUIDL fund launched in March 2024 with Securitize. BUIDL now holds approximately $2.5 billion in assets and has been used as collateral across crypto markets. According to CoinDesk, BlackRock's Cash Management Group oversees nearly $1.073 trillion in assets, a fraction of the $8.4 trillion U.S. money market fund industry, and the scale gives the firm significant influence over how that market evolves on-chain.

Martin Small, BlackRock's CFO, has described the firm's ambition to become "the reserve manager of choice" for stablecoin issuers, a goal that becomes more concrete as GENIUS Act compliance requirements create structured demand for eligible on-chain reserve assets.

The stablecoin market currently sits at approximately $305 billion, representing about 14% of the total $2.26 trillion crypto market cap. Under the GENIUS Act, issuers of regulated stablecoins must back them with approved assets. Tokenized Treasury funds structured to meet that standard, and deployable on the same chains where stablecoins circulate, represent a direct answer to that regulatory need.