BlackRock Restructures BSTBL Fund for GENIUS Act Compliance, Expands Digital Asset Strategy
BlackRock has overhauled its BlackRock Select Treasury Based Liquidity Fund (BSTBL) to comply with the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The revised fund will focus on short-term US Treasury securities and overnight repurchase agreements, eliminating agency investments to enhance liquidity. Trading deadlines have been extended to 5:00 p.m. ET, catering to institutional clients.
The MOVE positions BlackRock as a leading reserve asset manager for stablecoin issuers, leveraging its $1 trillion Cash Management division. Jon Steel, Global Head of Product and Platform, emphasized the fund's alignment with evolving regulatory frameworks.
Concurrently, BlackRock is expanding its digital asset offerings, including tokenized funds and regulated stablecoin solutions. This strategic pivot underscores institutional momentum toward blockchain-based financial instruments.
