BlackRock Expands Stablecoin Push With Fund to Manage Reserve Assets

BlackRock is going all-in on stablecoins.  The Wall Street giant said Thursday it will retool one of its money market funds to cater explicitly  to U.S. stablecoin issuers, by making the fund an approved reserve asset for such tokens under the recently passed GENIUS Act. The BlackRock Select Treasury Based Liquidity Fund (BSTBL) will remove agency investments, shorten the maturity of its investments in U.S. Treasuries, and add overnight repurchase agreements as an eligible asset, in a bid to make the fund b ...