Looking forward to stablecoin business opportunities! BlackRock customizes the BSTBL fund for issuers.

Asset management giant BlackRock ( is launching a revamped money market fund BSTBL ) (BlackRock Select Treasury Based Liquidity Fund), aimed at complying with the GENIUS Act, to provide services for stablecoin issuers that must maintain high-quality, liquidity reserves under the new federal framework in the United States.

BlackRock has managed a $66 billion reserve fund for Circle.

BlackRock established the Circle Reserve Fund back in November 2022 to manage reserve assets for the stablecoin issuer Circle.

The Circle Reserve Fund is a dedicated fund registered with the U.S. Securities and Exchange Commission (SEC( by BlackRock Advisors, LLC, as a ) 2a-7 Government Money Market Fund(, specifically for Circle. Its portfolio includes short-term U.S. Treasury bills, repurchase agreements )U.S. Treasury Repurchase Agreements(, and cash, with the custodian bank being Bank of New York Mellon.

BlackRock currently manages over $66 billion in USDC reserves, with a net fee rate of 0.17%.

BlackRock customizes BSTBL for stablecoin issuers.

According to CNBC, BlackRock is launching a revamped money market fund BSTBL ) (BlackRock Select Treasury Based Liquidity Fund) aimed at complying with the GENIUS Act to service stablecoin issuers who must hold high-quality, liquidity reserves under the new U.S. federal framework.

The fund named BlackRock Selected Treasury Liquidity Fund (BSTBL( has undergone restructuring, with a trading cutoff time of 5 PM Eastern Time in the United States, and primarily invests in government bonds. This move will simplify the reserve management of token issuers operating under federal regulation.

BlackRock is actively exploring blockchain technology.

The U.S. President Trump signed the first federal stablecoin law, the “GENIUS Act,” in July, directing regulatory agencies to establish rules for “Permitting Payment Stablecoin Issuers” (PPSI), including standards for reserve assets such as short-term Treasury bills, anti-money laundering requirements, and mandatory reporting. The Treasury Department also launched a public comment period last month. The market estimates that by 2028, the issuance of stablecoins will reach 2 trillion USD, while the current supply in the stablecoin market is nearly 300 billion USD.

BlackRock has issued a Bitcoin spot ETF )IBIT( and an Ethereum spot ETF )ETHA(, both leading the market in their category, while its BUIDL tokenized Liquidity Fund is also widely used in DeFi.

BlackRock has recently been more actively researching the tokenization of ETFs, allowing them to be traded on the blockchain in token form. This means that investors can expect to trade 24/7 without being restricted by time zones in the future, and it could even make it easier for countries around the world to access U.S. financial products in the market.

) BlackRock explores ETF tokenization, leading Wall Street giants on the path of financial market blockchain (

This article is optimistic about the opportunities in stablecoins! BlackRock has tailored the BSTBL fund for issuers, first appearing in Chain News ABMedia.