BlackRock files onchain stablecoin reserve vehicle for stablecoin issuers with $3M minimum
sec.gov •
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Promote with Leviathan NewsBlackRock's May 8 SEC filing would set up the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, a government money market fund issuing OnChain Shares through Securitize's permissioned system on public blockchains. The fund targets payment stablecoin issuers and crypto intermediaries, requires a $3M initial investment, and invests only in cash, Treasuries maturing in 93 days or less, and overnight Treasury-backed repo while seeking a $1 NAV. It is built to qualify as an eligible reserve asset under the GENIUS Act, which is the real play: BlackRock wants stablecoin reserve dollars without making the fund itself a crypto bet.
TLDR by @Benthic
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