BlackRock (NYSE: BLK), the world's largest asset manager, is pushing further into blockchain-based finance, and Solana is one of the blockchain networks carrying the move. Recently, BlackRock
BlackRock (NYSE: BLK), the world's largest asset manager, is pushing further into blockchain-based finance, and Solana is one of the blockchain networks carrying the move.
Recently, BlackRock filed with the U.S. Securities and Exchange Commission (SEC) to launch the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, a tokenized money market fund trading under the ticker RSVXX. A money market fund is a low-risk fund that holds cash and short-term government debt to keep its value stable.
According to the filing dated July 31, the fund invests entirely in cash, short-term U.S. Treasuries, and overnight repurchase agreements, short-term loans backed by those Treasuries.
Related: Elon Musk backs bullish case for SpaceX investors ahead of first earnings report
The fund records share ownership directly on public blockchains rather than only in a traditional database. The filing lists three networks it uses: Ethereum, Tempo, and Solana.
Solana is a blockchain known for fast, low-cost transactions, which has made it a growing venue for tokenized real-world assets like the BlackRock fund. Securitize, a tokenization firm, serves as the fund's transfer agent, maintaining the official record of who owns what.
The fund is built to qualify as an eligible reserve asset under the GENIUS Act, the U.S. law passed in July 2025 that sets rules for USD-pegged stablecoins,. In plain terms, stablecoin issuers could hold shares of BlackRock's fund as part of the reserves backing their coins.
The move deepens BlackRock's expansion into tokenized finance. In 2024, it launched its first tokenized money market fund, BUIDL, also with Securitize.
That fund has since grown to roughly $2.5 billion in assets and is increasingly used across crypto markets as collateral for borrowing and leveraged trading.
Related: Solana's tokenized asset volume hits $5.8 billion in a record quarter
