BlackRock launches its first tokenized share classes for money market funds in Europe
4 AUG, 2026
By Joanna Piwko from RankiaPro Europe
BlackRock has launched in Europe its first tokenized access to investment funds through on-chain share classes for a selection of BlackRock Institutional Cash Series (ICS) money market funds.
The initiative extends blockchain-based capabilities to Europe's largest liquidity management platform and aims to improve operational efficiency, transparency, and accessibility for institutional investors.
Tokenized money market funds on blockchain
The manager will use the Kinexys asset tokenization platform by J.P. Morgan to issue digital tokens of these ICS share classes on the Ethereum blockchain. In this way, eligible investors will be able to access digital versions of existing treasury management strategies, while maintaining the institutional solidity of traditional money market funds and their fit within regulated and market-recognized structures.
According to the information provided by the manager, each token will represent an underlying share of an ICS fund, while the official register of participants will continue to be managed through the fund's transfer agent infrastructure. With this model, BlackRock combines the traditional operation of money market funds with new on-chain functionalities.
New uses for treasury, collateral, and digital distribution
The new tokenized share classes will allow access to a money market fund with performance, supported by an already consolidated base of scale and liquidity, and will incorporate 24/7 available peer-to-peer transfers, as well as movement and visibility of positions on the chain in a timeframe close to real time.
In addition, these on-chain classes will facilitate the smooth transfer of positions between authorized investor portfolios through smart contracts, i.e., programs deployed on blockchain that automatically execute when certain conditions are met. Among the emerging use cases that BlackRock highlights are the improvement of corporate treasury management and liquidity optimization, digital collateral management, support for banking channels, private banking and digital distribution, as well as integration with tokenized financial ecosystems.
Today's launches represent a significant evolution in the way investors access and manage cash, while helping to modernize the infrastructure of capital markets.
Beccy Milchem, Global Head of Cash Distribution and Head of the International Cash Management business at BlackRock
Tokenized money market funds allow us to incorporate high-quality, short-term investment exposures in digital formats, while maintaining the same standards around capital preservation, liquidity, and risk management.
Hannah Winter, Head of Digital Cash at BlackRock
Tokenization has moved from concept to execution. By tokenizing share classes of existing money market funds, we bring new on-chain functionality to trusted products, made possible by blockchain infrastructure. At Kinexys, we are focused on delivering institutional-grade solutions at scale.
Kara Kennedy, Global Head of Market Development, Kinexys by J.P. Morgan
