BlackRock is making strides into the stablecoin sector with its overhauled money market fund, aligning it with the recently implemented GENIUS Act regulations to provide a secure reserve for stablecoin issuers.

The firm, which manages approximately $13.5 trillion in assets, announced that its newly redesigned fund, known as the BlackRock Select Treasury Based Liquidity Fund (BSTBL), aims to store reserves for U.S. dollar-pegged stablecoin issuers. This initiative was highlighted in a report by CNBC, emphasizing BlackRock’s ambition to become a leading reserve manager in the stablecoin space.

“We aspire to be — and consider ourselves to be — a leading reserve manager,” stated Jon Steel, the global head of product and platform for BlackRock’s cash management arm, according to CNBC.

“Nuestro objetivo es ser considerados los principales gestores de reservas.”

The introduction of the fund coincides with the law signed by President Donald Trump earlier this year, establishing the first regulatory framework for stablecoins in the U.S. The GENIUS Act stipulates how these issuers should manage their reserves, and BlackRock intends to fully comply.

Restructured Fund for Stablecoin Reserves

In an August 2025 SEC filing, BlackRock disclosed changes to its previous money market fund, which predominantly invested in cash and U.S. Treasury bills. The restructured fund, now exclusively focusing on short-term U.S. Treasury securities and repurchase agreements, becomes an ultra-liquid option tailored for institutional clients and stablecoin issuers.

BlackRock’s website displaying the new fund.
Source: BlackRock

Additional modifications include extended trading hours until 5:00 PM Eastern Time, along with updated valuation times.

The summary prospectus outlines the fee structure, detailing a 0.21% management fee, a 0.10% shareholder servicing fee, and total expenses of 0.27% post-waivers, with an agreement in place until June 30, 2026.

Summary Prospectus of the new fund.
Source: BlackRock

This renewed fund marks BlackRock’s significant entry into the growing stablecoin market, which positions the asset management company as a pivotal player managing reserves for dollar-pegged tokens. This initiative is part of BlackRock’s broader digital assets strategy, which also includes offerings for Bitcoin (BTC), Ether (ETH), and a recent BUIDL tokenized liquidity fund.

Attracting More Stablecoin Issuers

Moreover, BlackRock has maintained a long-standing partnership with Circle, the issuer of the USDC stablecoin, which is expected to intensify as stablecoin adoption increases. The BSTBL fund is set to attract additional issuers amid rising demand for regulatory compliant and yield-earning reserves.

Citi analysts have estimated a dramatic surge in stablecoin issuance, predicting an increase from $280 billion today to $4 trillion by 2030, highlighting the market’s vast potential.

[Related: Crypto to handle 10% of post-trades by 2030: Citi survey]