Accelerate the deployment of "Tokenized Finance"! BlackRock applies to launch "these 2 on-chain funds"

The world’s largest asset management leader, BlackRock (NYSE: BK), is actively accelerating the expansion of its “tokenized finance” territory. Recently, it officially submitted applications to the U.S. Securities and Exchange Commission (SEC), preparing to launch two blockchain-based U.S. Treasury and money market funds.
According to documents filed with the SEC last Friday, BlackRock plans to introduce a new fund called “BlackRock Daily Reinvestment Stablecoin Reserve Tool,” primarily investing in cash, short-term U.S. Treasuries, and overnight repurchase agreements backed by government bonds.
This new fund will issue “on-chain shares” through a “permissioned system” connecting multiple blockchains. The transfer agent division of the digital asset securitization platform Securitize will be responsible for maintaining the official ownership records of these tokenized shares.
The documents indicate that the organization will adopt a permissioned framework on public blockchains, simultaneously maintaining records linking investors’ real identities with their digital wallet addresses.
Currently, the filing does not disclose which blockchain networks the fund will support initially, but it clearly sets a participation threshold: a minimum investment of $3 million, indicating its strategic focus on large institutions and high-net-worth clients.
Another $7 billion money market fund to go on-chain
It is also predicted that BlackRock is simultaneously applying to add an on-chain share class to its other traditional money market fund — the “BlackRock Liquidity Funds - US Treasury Money Market Fund,” which manages nearly $7 billion in assets.
According to the plan, the fund’s transfer agent, BNY Mellon Investment Servicing, will use the Ethereum ERC-20 token standard to register official ownership. The on-chain records will be linked with off-chain real-name systems and investor wallets, serving as the official shareholder registry.
This series of actions highlights BlackRock’s strong ambition to fully enter the tokenized finance space. “Tokenization” refers to converting traditional financial assets such as funds, bonds, or stocks into digital certificates on the blockchain, which is currently the fastest-growing sector in digital assets. Market advocates firmly believe this technology can significantly shorten settlement times, enable 24/7 trading without market hours, and improve market transparency.
Tokenization market grows over 200% annually; BlackRock CEO strongly supports
How hot is the tokenization wave? According to data tracking platform rwa.xyz, the global “Real-World Asset (RWA)” tokenization market has experienced explosive growth over the past year, with an increase of 200%, and its total market value has surpassed $30 billion.
Additionally, a joint report by Boston Consulting Group (BCG) and blockchain payments giant Ripple is more optimistic, projecting that by 2033, the RWA tokenization market will soar to $18.9 trillion.
BlackRock CEO Larry Fink has publicly expressed support for tokenization technology multiple times, viewing it as the ultimate solution to modernize traditional financial infrastructure.