
BlackRock has relaunched its Liquid Federal Trust Fund as the BlackRock Select Treasury Based Liquidity Fund (BSTBL), explicitly tailored to serve U.S. dollar stablecoin issuers. The vehicle will invest solely in short-term U.S. Treasuries and overnight repurchase agreements and is built to comply with the GENIUS Act, the new federal stablecoin framework enacted in 2025. The product signals growing institutional infrastructure for regulated stablecoins, potentially channeling issuer reserves into ultra-safe, liquid assets and reshaping how stablecoin providers meet new compliance and liquidity standards.
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