BlackRock Expands Stablecoin Push With Fund to Manage Reserve Assets [Yahoo! Finance]
Blackrock Health Sciences Trust (BME)
US:NYSE Investor Relations:
blackrock.com/investing/products/240227/blackrock-health-sciences-trust-usd-fund
Company Research
Source: Yahoo! Finance
cater explicitly to U.S. stablecoin issuers, by making the fund an approved reserve asset for such tokens under the recently passed GENIUS Act The BlackRock Select Treasury Based Liquidity Fund (BSTBL) will remove agency investments, shorten the maturity of its investments in U.S. Treasuries, and add overnight repurchase agreements as an eligible asset, in a bid to make the fund both compliant with GENIUS and maximally liquid for stablecoin issuers. Jon Steel, global head of product for BlackRock's cash management business, said Thursday that the company has seen increased demand from stablecoin issuers seeking reserve management options in the wake of GENIUS's passage. “We believe [the fund] positions BlackRock as one of the reserve asset managers of choice for the digital payments ecosystem,” Steel said in a statement. BlackRock's bold push into stablecoin reserves is all but certain to have a significant impact on the sector. Earlier this week, the company reported that i
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