BlackRock tokenises US$311B fund platform

• BlackRock launched 12 tokenised share classes for European money market funds managing US$311 billion.
• Approved investors can transfer these fund shares between eligible wallets using Ethereum (CRYPTO:ETH).
• BlackRock said the products target treasury management, digital collateral and other institutional uses across multiple markets.

BlackRock launched 12 tokenised share classes covering European money market funds managing US$311 billion.

The European launch came one day after BlackRock introduced two tokenised money market products in the United States.

BlackRock digital cash head Hannah Winter said the products deliver short-term investments digitally without changing existing risk and liquidity standards.

JPMorgan provides the Kinexys platform, which connects blockchain transactions with the funds’ existing ownership records.

BlackRock said approved investors can transfer tokenised shares between eligible wallets for treasury management and digital collateral.

The products use Ethereum(CRYPTO:ETH), while each token represents ownership of an underlying fund share rather than a cryptocurrency.

BlackRock also joined a July tokenisation pilot involving US stocks and Treasuries alongside several major financial institutions.

At the time of reporting, Ethereum price was $1,872.20.