BlackRock plans $6.1B tokenized money-market funds on Ethereum for stablecoin holders seeking yield.

BlackRock has filed with U.S. regulators to create tokenized versions of two money-market funds totaling $6.1 billion on the Ethereum blockchain. This move aims to offer stablecoin holders a way to earn regulated yields on their digital assets, which typically earn no interest. By leveraging Ethereum's smart contract capabilities, BlackRock hopes to bridge traditional finance and crypto, automating fund management and compliance. Regulatory approval is pending, but if successful, this could set a precedent for institutional adoption of on-chain investment products and intensify competition in the stablecoin market.