BlackRock seeks SEC approval to bring $6.1B Treasury liquidity fund to Ethereum

BlackRock has filed two submissions with the U.S. Securities and Exchange Commission to extend its tokenization efforts on Ethereum, Bloomberg reported Friday. One filing would add a tokenized share class to the BlackRock Select Treasury Based Liquidity Fund, a $6.1 billion money-market vehicle. Under the proposal, shares would be issued as ERC20 tokens, with BNY Mellon Investment Servicing maintaining the official onchain ownership register. Fees are set at 0.27% after waivers through June 30. The second filing covers a new product, the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle. The vehicle is designed to hold cash and short-term Treasuries as dedicated reserves for stablecoin issuers, echoing the reserve management approach used by Tether and Circle. Both offerings are aimed at stablecoin holders seeking regulated yield while staying onchain. Neither product has received SEC approval.