BlackRock launches tokenized money market funds in 15 European markets
In brief
- BlackRock unveiled 12 tokenized share classes across 15 European markets, tapping $311 billion in money market assets
- Tokenized funds comply with EU UCITS regulations and offer sterling, euro, and dollar denominations
- Expansion follows BlackRock's U.S. tokenized cash platform launch, reflecting institutional demand for digital asset management
- Tokenized real-world assets surged over 200% in the past year to exceed $30 billion
Tokenized Funds Gain Institutional Traction
BlackRock unveiled 12 new tokenized share classes based on six funds across 15 European markets. The European tokenized funds tap into a combined $311 billion of assets under management in money market funds. The funds comply with the European Union's UCITS regulations and include sterling, euro and dollar share classes.
The onchain share classes are available in Bermuda, Estonia, France, Germany, Ireland, Lithuania, Luxembourg, Malta, the Netherlands, Spain, Sweden, Singapore, and the U.K. The Institutional Cash Series money market funds were tokenized in collaboration with JPMorgan using the bank's Kinexys platform.
The tokenized funds are designed for corporate treasurers, asset managers and investment consultants across traditional and digital markets. This positioning reflects a shift in how large institutions manage cash and liquidity.
Market Momentum and Industry Outlook
The tokenized real-world asset market has grown more than 200% over the past year to over $30 billion. Citi projects tokenized securities could reach $5.5 trillion by 2030. CEO Larry Fink has repeatedly championed tokenization technology as a way to modernize financial markets.
"This is what investors want in cash management: size and liquidity. The tokenised share classes add a new digital holding and transfer capability to funds supported by established investment, dealing and liquidity-management processes." — Beccy Milchem, BlackRock global head of cash distribution and head of international cash management
BlackRock's dual expansion (U.S. and European markets within 24 hours) signals confidence that institutional appetite for tokenized cash products extends beyond a single jurisdiction. The partnership with JPMorgan on Kinexys infrastructure underscores how legacy finance and blockchain are converging at scale.
