BlackRock filed SEC registration statements for two new tokenized money market funds, BSTBL and BRSRV, on May 8, 2026, each targeting a different corner of the on-chain economy with one clear goal: giving crypto users access to Treasury yields without leaving the blockchain.
Two funds, two strategies
BSTBL is an Ethereum-based share class of BlackRock’s existing Select Treasury Based Liquidity Fund, which manages approximately $6.1 to $7 billion in cash and short-term US Treasury investments. The new ERC-20 share class carries fees of 0.27% after waivers, with BNY Mellon serving as the transfer agent.
BRSRV was built from scratch as a multi-chain tokenized money market vehicle. Its defining feature is that it’s specifically engineered for stablecoin reserve eligibility, holding cash and short-term Treasury assets that could qualify as backing for regulated stablecoins.
Why stablecoin holders should pay attention
