Overview
- The BNY Dreyfus Stablecoin Reserves Fund (ticker BSRXX) debuts as a money-market vehicle intended for U.S. dollar stablecoin issuers and related institutional participants.
- The fund invests in cash-equivalent instruments such as U.S. Treasuries and repurchase agreements and holds no stablecoins.
- Anchorage Digital provided the initial investment, with CEO Nathan McCauley describing the fund as essential infrastructure for compliant issuance at scale.
- Access is limited to qualified institutional investors, including entities acting in custodial, brokerage or fiduciary roles.
- BNY positions the product within the new GENIUS framework and cites industry projections of roughly $1.5 trillion in stablecoin supply by 2030, echoing a broader market served by offerings like BlackRock’s Circle Reserve Fund.