BlackRock officially launched the money market fund BSTBL in compliance with the GENIUS Act

ChainCatcher news, BlackRock has officially launched the money market fund BlackRock Select Treasury Based Liquidity Fund's (BSTBL) in compliance with the requirements of the GENIUS Act. This fund will be able to serve as reserve assets for stablecoin issuers, with proposed investment strategies including: incorporating overnight repurchase agreements into the pool of qualified assets, and shortening the investment duration of U.S. Treasury instruments. Additionally, the fund will extend the trading cutoff time from 2:30 PM Eastern Time to 5:00 PM, thereby providing more investment opportunities.