BlackRock launches tokenized money market funds in Europe on Ethereum

BlackRock ↘ 0.91% has launched tokenized share classes for select European money market funds on the Ethereum ↘ 0.50% blockchain, bringing 24/7 digital wallet transfers to its $311 billion Institutional Cash Series platform in what marks the asset manager's first onchain fund access in Europe.

How It Works

The rollout, announced Tuesday, covers 12 tokenized share classes across euro, sterling, and U.S. dollar-denominated money market funds under the Irish UCITS umbrella. Each digital token represents one share in the underlying fund, with the official shareholder register remaining the legal record of ownership. Approved institutional investors can transfer tokens directly between digital wallets around the clock via smart contracts.theblock

JPMorgan's ↘ 0.51% Kinexys blockchain platform serves as the tokenization infrastructure provider and transfer agent. Kinexys has processed over $300 billion in intraday repurchase transactions since its launch.coingape+2

"Tokenised money market funds allow us to bring high-quality, short-duration investment exposures into digital formats, while maintaining the same standards around capital preservation, liquidity, and risk management," said Hannah Winter, BlackRock's Head of Digital Cash.theblock

Expanding a Transatlantic Strategy

The European launch follows by one day BlackRock's introduction of two tokenized U.S. money market products — BSTBL and BRSRV — targeting stablecoin reserve compliance under the GENIUS Act. Together, the back-to-back moves signal BlackRock is converting its entire cash management franchise into blockchain-native form across both continents.coingape+1

The tokenized share classes are available across 15 markets including the United Kingdom, Germany, France, Singapore, and Luxembourg. Use cases span corporate treasury management, digital collateral, and integration with broader tokenized financial ecosystems.theblock

BlackRock's existing BUIDL digital liquidity fund has grown to roughly $2.7 billion since its 2024 debut, and Ethereum anchors the majority of that volume.dailycoin+1

What It Means for Institutional Finance

According to Bloomberg, the move represents Wall Street's growing ambition to expand digital-asset technology into mainstream finance. BlackRock CFO Martin Small said last month during the firm's second-quarter earnings call that the company ultimately wants investors to access tokenized Treasury funds, iShares ETFs, and private market investments through digital wallets alongside crypto assets and stablecoins.bloomberg+1

Beccy Milchem, BlackRock's head of international cash management, said interest has come from retail distributors, corporate treasurers, and capital markets participants. "It is still early, but we already have clients reviewing related products," she said.bloomingbit