BlackRock to launch GENIUS-compliant money market fund tailored for stablecoin issuers: report
BlackRock has revamped its Select Treasury Based Liquidity Fund to simplify reserve management for stablecoin issuers.
BlackRock is rolling out a revamped money market fund designed to comply with the GENIUS Act as the world's largest asset manager positions to serve stablecoin issuers that must hold high-quality, liquid reserves under the new U.S. federal framework.
The fund — BlackRock Select Treasury Based Liquidity Fund (BSTBL) — has been retooled with a 5 p.m. ET trading deadline and a Treasury-heavy mandate, according to CNBC. It's part of a push to streamline reserve management for token issuers operating under federal guardrails.
Interesting move by BlackRock. Catering to stablecoin issuers with a GENIUS-compliant fund like BSTBL shows they're betting big on the digital asset space. Makes sense given the push for regulatory clarity and reserve quality
Say what you want about Blackrock but the company does get big money rolling into whatever it rolls out.
This is where it becomes a major player in whatever market it enters. I have a feeling crypto will be no different. It is already the leader in both Bitcoin and Ethereum ETFs.
Absolutely, BlackRock's influence is undeniable. Their entry into crypto with BSTBL and leadership in Bitcoin and Ethereum ETFs could drive massive adoption. Big money tends to follow their lead, and I expect the same here