From Ondo-built model portfolios to a $311 billion money market fund tokenization, the world's biggest asset manager is rewiring its plumbing on-chain
BlackRock has been steadily converting traditional financial products into digital tokens. The list now includes money market funds, Treasury vehicles and, most recently, model portfolios.
The latest move came on September 24, 2026. BlackRock and Ondo Finance launched seven tokenized model portfolios.
This marks the first time an outside firm has tokenized BlackRock’s model portfolios.
The portfolios span several strategies, including high-income, diversified growth and high-growth models. Each one holds a basket of ETFs, and each one trades as a digital token.
That launch capped a crowded stretch. In August 2026, BlackRock introduced BSTBL , a tokenized share class of a Treasury liquidity fund worth approximately $7 billion.
Alongside it came BRSRV , a vehicle designed to hold stablecoin reserves. Both products run across multiple blockchains through Securitize , the tokenization platform BlackRock has partnered with.
The biggest number of the bunch also landed in August 2026. BlackRock tokenized European money market funds totaling $311 billion, using JPMorgan ’s Kinexys platform on Ethereum .
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Tokenized funds can settle faster than their traditional counterparts. They can also move peer-to-peer around the clock, rather than waiting for banking hours and intermediaries. Every transfer leaves a visible record, which adds transparency to how assets change hands.
BlackRock says all of this happens within existing regulatory requirements.
BlackRock’s flagship tokenized Treasury fund, BUIDL , launched in 2024. BUIDL now manages approximately $2–2.5 billion in assets. It operates across several blockchains, including Ethereum and Solana .
CEO Larry Fink has argued that tokenization could breathe new life into aging financial infrastructure. He has compared the potential shift to the early days of the Internet and pointed to lower fees and faster settlement as the main payoffs.
BlackRock is aiming to generate $500 million in annual revenue from its digital asset businesses by 2030.
BlackRock now has tokenized cash management, stablecoin reserves, a large European money market tokenization and packaged investment strategies.
By spreading products across Ethereum, Solana and other networks via Securitize, BlackRock avoids betting on a single blockchain winning.
The $500 million revenue target gives outsiders a yardstick. If BlackRock’s digital asset business tracks toward that figure by 2030, it will strengthen the case that tokenization is a real business line rather than a marketing exercise.