In 2024, BlackRock launched its first tokenized money-market fund, BUIDL, with Securitize (SECZ). The fund has since grown to roughly $2.5 billion in assets and is increasingly used across crypto markets as collateral for borrowing and leveraged trading.
BlackRock Chief Financial Officer Martin Small said during the recent Q2 2026 Earnings Call that the financial giant wants to be the stablecoin reserve manager of choice in the industry. “We already manage $60 billion of reserves for Circle, representing about a quarter of the $300 billion stablecoin market. We see lots of growth ahead in stablecoin and we want to be the reserve manager of choice,” Small said during the call.
U.S. money market funds have grown to more than $8.4 trillion in assets. BlackRock’s Cash Management Group oversees nearly $1.073 trillion in cash strategies for a range of corporations, banks, foundations, insurance companies, and public funds.
“As demand grows for high-quality reserve assets to support stablecoins and other tokenized financial products, these funds provide clients with additional choice in how they access and use money market fund investment solutions across traditional and digital markets,” said Jon Steel, Global Head of Product and Platform for BlackRock’s Cash Management business.
Blackrock’s latest move comes as tokenization gains momentum on Wall Street and BlackRock CEO Larry Fink has repeatedly championed the technology as a way to modernize financial markets. The tokenized real-world asset market has grown more than 200% over the past year to over $30 billion, according to rwa.xyz, while Citi projects tokenized securities could reach $5.5 trillion by 2030.
