BlackRock, the world's largest asset manager overseeing $14 trillion in assets, has filed paperwork with the U.S. Securities and Exchange Commission (SEC) to expand its tokenized fund offerings. According to the Friday filing, the asset management giant proposed launching the BlackRock Daily Reinvestment Stablecoin Reserve Vehicle, a new fund that invests in cash, short-term U.S. Treasury securities, and overnight repurchase agreements backed by Treasuries. The fund would issue 'OnChain Shares' through a permissioned system connected to multiple public blockchains, with Securitize Transfer Agent LLC maintaining official ownership records.
Separately, BlackRock filed paperwork to create an onchain share class for its BlackRock Select Treasury Based Liquidity Fund, a traditional money-market fund with nearly $7 billion in assets under management. As reported in the filing, the fund's transfer agent, BNY Mellon Investment Servicing, would maintain official ownership records on Ethereum using ERC-20 token standards. Blockchain records combined with offchain identity systems would serve as the official shareholder registry, with investors facing a $3 million minimum investment.
The filings represent BlackRock's deepening commitment to tokenized finance, one of the fastest-growing areas of digital assets. According to rwa.xyz data, the tokenized real-world asset market has grown more than 200% over the past year and now exceeds $30 billion. Latest data shows total value locked in tokenized Treasury products across all platforms exceeded $5 billion in Q1 2026, up from roughly $1.8 billion at the start of 2025. A report by Boston Consulting Group and Ripple projected the market could reach $18.9 trillion by 2033. Major financial institutions including BlackRock and Franklin Templeton entered the tokenized fund market in 2024 and expanded their on-chain product lines through 2025, with institutional presence validating the sector for compliance-focused allocators.
The renewed interest in tokenized real-world assets is reflected in recent market performance, with ONDO Finance's ONDO token surging 24.4% in 24 hours to $0.447, accompanied by $769 million in daily volume. The token's market capitalization reached approximately $2.18 billion, placing it at rank 45 by global market cap. The 24.4% USD gain was accompanied by a 23.3% gain measured in Bitcoin terms, indicating broad-based momentum rather than Bitcoin-specific weakness. Ondo Finance operates as a permissionless alternative to institutional tokenized funds, offering yield-bearing stablecoin instruments like USDY backed by Treasury and bank deposit collateral, allowing on-chain holders to earn yields directly without KYC requirements typically associated with institutional products.
The sustained price appreciation in ONDO reflects broader momentum in the real-world asset tokenization sector, which has seen renewed search interest in May 2026 as Bitcoin stabilized above $80,000 and traders rotated into narrative-driven altcoins. Ondo's position as the most visible permissionless RWA protocol makes it a natural destination for this rotation, though sustained price appreciation would require either a new protocol catalyst or continued sector-level demand. Traders are watching the $0.50 level as near-term resistance, which was last tested in September 2025, as the protocol continues to expand its product suite with longer-duration bond exposure through OMMF and multi-chain deployment across Ethereum, Solana, and other high-throughput networks.
