BlackRock Proposes Blockchain-Based Treasury Fund Structures

BlackRock has submitted two proposals to the U.S. Securities and Exchange Commission (SEC) on May 8, aiming to establish blockchain-based Treasury fund structures. According to NS3.AI, one of the proposals seeks to integrate an on-chain share class into the BlackRock Select Treasury Based Liquidity Fund, which is valued at nearly $7 billion. This initiative involves BNY Mellon managing shareholder data on the Ethereum blockchain. The second proposal involves a stablecoin reserve vehicle that would issue permissioned OnChain Shares, requiring a minimum investment of $3 million. However, the filing did not specify the initial blockchains to be used for this vehicle.