BlackRock debuts tokenized access to $311 billion of money market funds in Europe
Published: August 4, 2026 — CoinDesk (Ian Allison); details corroborated by Decrypt
BlackRock launched its first on-chain fund access in Europe: 12 tokenized share classes across six Institutional Cash Series (ICS) money market funds representing a combined $311 billion AUM (as of June 30 context in secondary reporting).
Product details
- UCITS-compliant funds; sterling, euro, and U.S. dollar share classes (distributing and accumulating forms per Decrypt)
- Tokenization with JPMorgan Kinexys: tokens minted on Ethereum; Kinexys handles minting/burning as bridge to traditional shareholder register
- Official register remains with the fund’s transfer agent; each token represents an underlying ICS share
- Smart contracts enable 24/7 peer-to-peer transfers between approved investor wallets and near real-time holdings visibility
- Aimed at corporate treasurers, asset managers, digital collateral, bank/wealth distribution — professional/qualified clients, not retail
- Availability includes Bermuda, Estonia, France, Germany, Ireland, Lithuania, Luxembourg, Malta, Netherlands, Spain, Sweden, Singapore, and the U.K.
Quotes / framing
Beccy Milchem (BlackRock): tokenised share classes add digital holding and transfer capability to funds with established investment, dealing, and liquidity processes. Kara Kennedy (Kinexys): “Tokenization has moved from concept to execution.”
Context
- Comes one day after BlackRock added U.S. tokenized cash offerings (including products on Solana/Ethereum/Tempo with Securitize per Decrypt)
- Builds on BUIDL (~311B base it expects to move on-chain
- RWA market cited as growing >200% YoY to over 5.5T by 2030