BlackRock Expands Tokenized Money Market Fund Access in Europe Through JPMorgan
BlackRock has expanded tokenized access to parts of its Institutional Cash Series money market funds in Europe, using JPMorgan’s Kinexys platform to support the share classes, according to reporting on the rollout. The move brings tokenized functionality to 12 share classes across six existing funds, rather than launching new products.
The European offering is tied to a combined $311 billion in assets under management across the funds involved, and the available share classes cover sterling, euro and dollar denominations. Coverage extends across multiple European markets, including France, Germany, Ireland, Luxembourg, the Netherlands, Spain and the U.K., with availability also cited for several other jurisdictions.
How the structure is being implemented
Reports on the launch say the tokenized share classes are being built on Ethereum and supported by JPMorgan’s Kinexys infrastructure, which handles the tokenization layer while the underlying fund records continue to sit with the traditional transfer-agent setup. In that model, each token represents an existing fund share rather than a separate pool of assets.
The funds are described as UCITS-compliant money market funds, which means the tokenized access sits within an established regulated structure rather than a new fund format. The rollout is also reported to extend to Singapore, broadening the geographic reach of the tokenized share classes beyond Europe.
One online observer noted that the $311 billion figure refers to the combined assets of the European money market funds connected to the offering, clarifying a number that had been circulating in commentary around the launch. That detail appears to refer to the scale of the funds behind the tokenized access rather than a standalone tokenized asset total.
BlackRock has not publicly framed the move as a replacement for the existing fund structure. Instead, the tokenized share classes appear to add a digital access layer to conventional money market products already in market.
