CMC News

#BlackRock Launches GENIUS Act–Compliant Stablecoin Fund

BlackRock has redesigned its flagship money market fund to comply with new U.S. #stablecoin regulations, positioning the $13.5 trillion asset manager as a key player in the rapidly expanding digital dollar market.

The revamped fund, called the BlackRock Select Treasury Based Liquidity Fund (BSTBL), will help manage reserves for companies issuing U.S. dollar-pegged #stablecoins. The product offers a secure place to park customer funds while meeting regulatory requirements.

Jon Steel, global head of product and platform for BlackRock's cash management business, stated the firm aims to be a preeminent reserve manager for stablecoin issuers. The offering aligns with the GENIUS Act, signed by President DonaldTrump earlier this year.

The #GENIUS Act created the first U.S. regulatory framework for stablecoins, outlining how issuers must hold and invest their reserves. BlackRock filed details with the Securities and Exchange Commission in August, renaming and restructuring its BlackRock Liquid Federal Trust Fund.

The changes, approved by the company's board, took effect Tuesday. The fund now invests entirely in short-term U.S. Treasury securities and overnight repurchase agreements, creating an ultra-safe, highly liquid vehicle for institutional investors and stablecoin issuers.

Adjustments include extended trading hours until 5:00 p.m. ET and later valuation times. The fund carries a 0.21% management fee, 0.10% shareholder servicing fee, and total expenses of 0.27% after waivers, with a fee waiver agreement running through June 30, 2026.