BlackRock has launched its first tokenised fund offering in Europe, introducing on-chain share classes for selected BlackRock Institutional Cash Series money market funds.
The launch extends blockchain-enabled functionality to BlackRock’s cash management platform, allowing eligible institutional investors to access tokenised versions of existing money market fund strategies while maintaining the established structures, liquidity and regulatory framework of traditional money market funds.
The new tokenised share classes are powered by J.P. Morgan’s Kinexys by J.P. Morgan asset tokenisation platform and are issued as digital tokens on the Ethereum blockchain.
The move marks another step in the institutional adoption of tokenised financial assets, as asset managers explore how blockchain infrastructure can improve efficiency, transparency and accessibility across capital markets.
The tokenised ICS share classes allow investors to access yield-bearing money market funds while introducing new digital capabilities, including, 24/7 peer-to-peer transfer functionality, near real-time on-chain visibility and movement of fund holdings and greater integration with emerging digital asset ecosystems
Each token represents an underlying share in an ICS money market fund, while the official shareholder register continues to be maintained through traditional transfer agent infrastructure.
BlackRock said the offering preserves the same institutional standards around liquidity, capital preservation and risk management while enabling new blockchain-based use cases.
Beccy Milchem, Global Head of Cash Distribution and Head of International Cash Management at BlackRock, said: “Today’s launches represent an important evolution in how investors access and manage cash, while helping modernise capital markets infrastructure.”
Hannah Winter, Head of Digital Cash at BlackRock, added that tokenisation enables the firm to bring high-quality, short-duration investment exposures into digital formats while maintaining existing standards around risk management and resilience.
BlackRock said the offering is available across multiple markets including the UK, Luxembourg, Ireland, Germany, France, Spain, the Netherlands, Sweden and Singapore.
