BlackRock is expanding into the stablecoin sector with its new fund BlackRock Select Treasury Based Liquidity Fund (BSTBL), aimed at managing reserves for issuers of USD-pegged stablecoins. According to CNBC, the fund will invest entirely in short-term Treasury bonds and overnight repurchase agreements, providing high safety and liquidity. BlackRock stated that this fund aligns with the GENIUS Act – the first legal framework in America for stablecoins signed earlier this year.
The BSTBL Fund has a management fee of 0.21%, total costs after discounts amount to 0.27%, and trading hours are extended until 5 PM (ET). BlackRock is currently managing reserves for Circle – the issuer of USDC, and aims to expand this model to many other parties. According to Citi's forecast, the global stablecoin value could increase from 280 billion USD to 4 trillion USD by 2030, showcasing the explosive potential of this market.
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