S&P Global Ratings assigned its top AAAm principal stability rating to BlackRock’s tokenized stablecoin reserve fund, while USDT remained rated “weak” in S&P’s separate stablecoin assessment.

Both funds intend to qualify as eligible reserve assets for permitted U.S. payment stablecoin issuers under the GENIUS Act.

BlackRock filed SEC registrations for BSTBL and BRSRV tokenized money market funds, targeting stablecoin holders with on-chain Treasury yields