Overview

• The restructured BlackRock Select Treasury Based Liquidity Fund (BSTBL) is explicitly aimed at managing reserves for stablecoin issuers.
• The portfolio will hold only short-term U.S. Treasuries and overnight repurchase agreements to prioritize safety and immediate liquidity.
• The fund now accepts trades until 5:00 pm Eastern Time, with later valuation times to better serve global institutional users.
• BlackRock presents the design as aligned with the GENIUS Act’s reserve requirements and signals its ambition to be a preeminent reserve manager, according to its cash-management chief.
• The launch complements BlackRock’s broader digital-asset offerings, with reporting noting existing ties to issuers like Circle and citing projections of robust stablecoin market growth.