BlackRock Daily Reinvestment Stablecoin Reserve Vehicle

On May 8, 2026, BlackRock Funds filed a new series named BlackRock Daily Reinvestment Stablecoin Reserve Vehicle. The definitive prospectus followed on July 31, and BlackRock launched the product on August 3. Those records make the identity clear: BRSRV is newly created, while BUIDL remains a separate fund.

Two tickers describe different layers. CoinGecko uses BRSRV for the token at the mapped Ethereum, Tempo and Solana addresses. The prospectus uses RSVXX for the fund's OnChain share class. BlackRock Advisors manages the portfolio, BlackRock Investments distributes the shares, Securitize keeps the transfer register, and BNY Mellon holds the assets and performs fund accounting.

The portfolio is conventional even though the register touches public chains. It may hold cash, U.S. Treasury obligations maturing within 93 days and overnight repos backed by Treasuries. Its weighted average maturity cannot exceed 60 days and its weighted average life cannot exceed 120 days. The prospectus says it does not buy cryptocurrencies or other digital assets.

Each token is a unit of beneficial interest in the fund. It participates in net investment income and the net proceeds left on dissolution. A full share gets one noncumulative vote on trustees and matters submitted to shareholders; fractions vote proportionally. The fund need not hold an annual meeting unless the 1940 Act requires one, and it may change its investment objective after 30 days' notice without a shareholder vote.

The product name refers to an actual accounting rule. Dividends are declared daily and, unless an investor elects cash, reinvested at NAV in additional OnChain Shares on the first Business Day after declaration. Both those shares and tokens minted for funded purchases cannot be sent peer to peer for 24 hours, although the prospectus permits redemption and movement between approved wallets belonging to the same investor.

Entry is controlled. The initial minimum is $3 million, investors must satisfy U.S. eligibility and KYC/AML checks, and Securitize must approve the wallet. Purchase and redemption orders use a 5:00 p.m. Eastern Business Day cutoff. A good redemption normally burns the tokens and wires federal funds that day if the custodian is open, although the fund reserves up to seven days when earlier payment could harm it. BlackRock's institutional marketing therefore describes the target audience, while the prospectus—not the marketing label—sets who may legally subscribe.

The official register combines chain records with Securitize's offchain identity register. The transfer agent can mint and burn shares, reject transfers, isolate or freeze wallets, claw back or replace tokens after specified errors or compliance events. Verified Ethereum code also exposes pause, seize and upgrade paths to authorized roles. These powers are part of how the registered shareholder record is maintained.

The networks were uneven at review. Ethereum showed 50,154,313.45 BRSRV at block 25,909,085; the mapped Solana and Tempo deployments each showed zero supply. BlackRock separately reported $50.2 million fund size, $1.00 NAV and a 3.43% 7-Day SEC Yield for September 4. They are dated readings. The $1 objective can fail, the yield can change, and reserve eligibility under the GENIUS Act remains an intention while the final implementing rule is pending.