BlackRock Money Market Fund To Be GENIUS Compliant
BlackRock Money Market Fund To Be GENIUS Compliant. Photo By Pepi Stojanovski On Unsplash.
BlackRock has announced its BSTBL (BlackRock Select Treasury Based Liquidity Fund) will adopt a new strategy to comply with the U.S. GENIUS Act.
The global asset management group has revealed it is adopting BSTBL to enable the fund to be used as a reserve for those stablecoin issuers that comply with the passed stablecoin legislation in the summer. Other changes involve increased overnight repos and a reduction in the maturity of U.S. Treasuries for liquidity purposes, contributing to BlackRock's broader success in its Cash Management side of the operations (reached $1T in AUM ) for 2025.
On this announcement, Global Head of Product and Platform Jon Steel expressed:
“We’re seeing increasing demand from stablecoin issuers and clients seeking innovative, compliant reserve management solutions. Our BSTBL money market fund builds on our history of innovation through products and marks an exciting new chapter for our cash management business. We’re thrilled to deliver a fund that meets the evolving needs of our clients and we believe it positions BlackRock as one of the reserve asset managers of choice for the digital payments ecosystem.”
BlackRock has also partnered with Ethena using its BUIDL Fund (BlackRock's USD Institutional Liquidity Ltd) acting as 99% of the reserves for the USDtb stablecoin, which in turns backs a variety of white-labelled stablecoins issued by Ethena for DeFi native protocols.
Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct their own due diligence at all times.
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