BlackRock Targets Stablecoin Market With New Fund BlackRock has restructured one of its money market funds to comply with the GENIUS Act, aiming to attract stablecoin issuers, John Steele, global head of products and platforms at BlackRock’s money management division, told 0 fund in question, formerly the BlackRock Liquid Federal Trust Fund, has been renamed the BlackRock Select Treasury-Based Liquidity Fund (BSTBL), according to filings with the 1 and Exchange Commission (SEC). Previously, the fund invested in 2 bonds and cash, but the new structure includes only short-term bonds and overnight repo 3 changes took effect on October 14, 2025.
“We want to be — and we believe we are — the preeminent asset manager for stablecoin issuers,” Steele 4 already partners with Circle, the issuer of USDC, managing most of the firm’s reserves through the Circle Reserve Fund (USDXX). Steele noted that the restructuring aims to attract additional stablecoin issuers, offering them the same advantages currently available to 5 Offers Extended Trading and Compliance Benefits Another key feature of BSTBL is extended trading hours, now running from 2:30 PM to 5:00 PM ET, making it easier for stablecoin issuers to access funds when 6 added that BSTBL is fully compliant with the GENIUS Stablecoin Act, signed into law by former President Trump in mid-July 2025.
“This will not only help our clients if they decide to issue a stablecoin, but it will also create new distribution opportunities,” Steele 7 major asset managers and fintech firms are also adapting funds to serve stablecoin 8 example, Fidelity has introduced a treasury-based liquidity fund tailored to crypto-backed assets, while State Street recently extended trading hours on its money market products to support digital asset operations.
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