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08/05/2026

BlackRock Tokenizes $311 Billion in European Money Market Funds on Ethereum

What happened: BlackRock has launched 12 tokenized share classes across six funds in its Institutional Cash Series, representing $311 billion in assets under management as of June 30, 2026.

BlackRock Tokenizes $311 Billion in European Money Market Funds on Ethereum

What happened: BlackRock has launched 12 tokenized share classes across six funds in its Institutional Cash Series, representing $311 billion in assets under management as of June 30, 2026. The shares are minted on Ethereum using JPMorgan's Kinexys platform, which handles minting, burning, and links on-chain activity to the traditional share register. These permissioned share classes are available to professional and qualified clients in 13 jurisdictions, enabling 24/7 peer-to-peer transfers between approved wallets.

Why it matters: This marks one of the largest real-world asset tokenization initiatives to date, signaling growing institutional comfort with blockchain infrastructure. While the offering is not open to retail and remains permissioned, it demonstrates how traditional finance is leveraging public blockchains for operational efficiency. The move could pressure competitors to accelerate similar tokenization strategies, though the impact on DeFi remains limited for now.

Source: The Block