BlackRock Revamps Money Market Fund to Serve Stablecoin Issuers

BlackRock, the global investment management giant, is making strategic moves to cement its position in the cryptocurrency sector, with a particular focus on stablecoins. The firm has overhauled its BlackRock Select Treasury Based Liquidity Fund (BSTBL), tailoring it to meet the demands of stablecoin issuers seeking safer, more liquid, and regulatory-compliant reserve management solutions.

The revamped fund aligns with the GENIUS Act, enacted in July 2025, which establishes a clear regulatory framework for stablecoins. By extending trading hours and optimizing liquidity, BlackRock aims to cater to issuers operating across global time zones.

Jon Steel, BlackRock's global head of product and platform for cash management, emphasized the firm's ambition to become the premier reserve manager for stablecoin issuers. The company already manages the majority of Circle's reserve fund and now seeks to expand its services to other players in the stablecoin market.