BlackRock has launched tokenized share classes for six funds in its BlackRock Institutional Cash Series in Europe, covering a combined $311 billion in assets. The move marks the firm’s first onchain fund access offering in the region and includes distributing and accumulating share classes tied to euro, sterling, and U.S. dollar strategies. The tokens are minted on Ethereum through Kinexys, JPMorgan’s blockchain unit, which handles issuance and redemption while linking onchain activity with the traditional shareholder register system. Each token represents one underlying fund share, while the official register continues to be maintained by the funds’ transfer agent. The smart contracts allow holdings to move between approved investor wallets. The offering is limited to professional and qualified clients and is not available to retail investors. BlackRock also issued a tokenized money market fund this Monday on Solana, Ethereum, and Tempo, a platform under Stripe, for stablecoin reserve management.
BlackRock has launched tokenized share classes for European money market funds, covering six funds in its BlackRock Institutional Cash Series with a combined $311 billion in assets.
The launch marks BlackRock’s first onchain fund access offering in Europe. It includes distributing and accumulating share classes across euro, sterling, and U.S. dollar strategies.
Tokens minted on Ethereum through Kinexys
The tokens are minted on Ethereum through Kinexys, JPMorgan’s blockchain unit. Kinexys is responsible for minting and burning the tokens and for linking onchain activity to the traditional shareholder register system.
Each token represents one share of the underlying fund, while the official shareholder register remains maintained by the funds’ transfer agent.
Available only to professional and qualified clients
The smart contracts allow holdings to be transferred between approved investor wallets. The share classes are being sold to professional and qualified clients and are not offered to retail investors.
BlackRock also issued a tokenized money market fund this Monday on Solana, Ethereum, and Stripe-owned Tempo for stablecoin reserve management.
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