BlackRock, the world's largest asset manager, has taken another major step into blockchain-based finance by filing with the SEC to tokenize share classes of its $7 billion Select Treasury-Based Liquidity Fund on Ethereum. The fund will issue ERC-20 tokens representing ownership, with BNY Mellon designated to maintain the official on-chain register of shares, bridging traditional custody with blockchain settlement.
This move deepens BlackRock’s tokenization strategy, building on earlier experiments like its BUIDL product. The filing outlines a dual approach: tokenized Treasury exposure for institutional investors, and a stablecoin reserve liquidity product designed for settlement and reserve management. By using Ethereum as the settlement layer, the structure enables continuous transfers, removing reliance on traditional market settlement windows and granting instant access to money-market fund shares for digital asset participants.
The initiative signals a sharp acceleration in real-world asset tokenization. Large asset managers are increasingly testing blockchain for fund issuance, and BlackRock’s approach positions Ethereum at the core of regulated, programmable financial infrastructure. The integration allows Treasury-backed instruments to operate alongside decentralized finance (DeFi) applications without altering underlying exposures, enhancing efficiency, transparency, and speed across global fund operations.
