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BlackRock launches tokenized European money market funds via JPMorgan
BlackRock unveiled 12 tokenized share classes across six money market funds covering $311 billion in assets under management across 15 European markets, according to CoinDesk reporting. The funds comply with EU UCITS regulations and were built using JPMorgan's Kinexys platform. The move follows BlackRock's addition of two tokenized cash offerings in the U.S. one day earlier.
BlackRock unveiled 12 new tokenized share classes across six European money market funds covering a combined $311 billion in assets under management, according to CoinDesk reporting. The tokenized offerings are available in 15 European markets and comply with the European Union's UCITS mutual fund regulations.
The move signals a shift in institutional tokenization beyond U.S. stablecoins into fixed-income and cash management vehicles, targeting corporate treasurers who manage operating cash and reserve funds. BlackRock designed the tokenized share classes for use by corporate treasurers, asset managers, and investment consultants operating across traditional and digital markets, per the company's statement.
The Institutional Cash Series money market funds were tokenized in collaboration with JPMorgan using the bank's Kinexys platform. The offerings are denominated in sterling, euros, and dollars. BlackRock's global head of cash distribution and head of international cash management, Beccy Milchem, said in a statement that "the tokenised share classes add a new digital holding and transfer capability to funds supported by established investment, dealing and liquidity-management processes."
The announcement came one day after BlackRock added two tokenized cash offerings in the U.S. market. CEO Larry Fink has repeatedly championed tokenization technology as a modernizing force for financial markets, according to CoinDesk's reporting.
Tokenized real-world assets have grown more than 200 percent over the past year to exceed $30 billion in total value, according to the data tracked by rwa.xyz and cited in CoinDesk's reporting. Citi projects tokenized securities could reach $5.5 trillion by 2030, per the same reporting.
The brief does not specify which blockchain network JPMorgan's Kinexys platform uses, how much of the $311 billion in AUM has migrated to tokenized share classes versus the total available for tokenization, the minimum investment amounts or participation requirements, or whether fees differ between traditional and tokenized share classes. These details remain unaddressed in the sourced reporting.
12 tokenized share classes across six European money market funds with $311 billion combined AUM, available in 15 European markets, built in collaboration with JPMorgan.
Watch for adoption metrics: which sectors and corporate treasurers migrate to the tokenized share classes, and at what pace. The story hinges on whether institutional cash management meaningfully shifts from traditional to blockchain-based settlement, or whether these offerings remain a boutique option alongside existing platforms.
And that's the way it is.
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