Bloomberg reported that BlackRock plans to launch two money market funds (MMFs) aimed at investors who hold cash in stablecoins instead of bank accounts. The new MMFs are named BRSRV and BSTBL, with BRSRV specifically targeting stablecoin holders. BRSRV's share tokens will be issued on multiple chains, while BSTBL's will be issued on the Ethereum chain. Previously, BlackRock CEO Larry Fink emphasized that all financial assets will eventually be tokenized. BlackRock's BUIDL fund, launched in 2024, currently manages assets worth $2.5 billion.
