[News Brief] Apr 22, morning | BlackRock Plans to Launch Two Tokenized Money Market Funds for Stablecoin Holders

BlackRock Plans to Launch Two Tokenized Money Market Funds for Stablecoin Holders

BlackRock is planning to launch two tokenized money market funds aimed at stablecoin holders rather than traditional bank account customers, according to PANews, citing Bloomberg.

According to the report, BlackRock plans to issue a digital share class of the BlackRock Select Treasury Liquidity Fund on the Ethereum blockchain. The fund invests in cash, U.S. Treasuries, and other securities with maturities of 93 days or less.

Another product, the BlackRock Daily Reinvestment Stablecoin Reserve Fund, will target investors who manage assets through crypto wallets and stablecoins, and is expected to launch across multiple blockchains.

BlackRock CEO Larry Fink has repeatedly stated that all financial assets will eventually be tokenized. BlackRock’s BUIDL fund, launched in 2024, currently manages about $2.5 billion in assets.

U.S. SEC Reviews New Rules for On-Chain Financial Markets and Software Applications

The U.S. Securities and Exchange Commission (SEC) is reviewing new rules that would apply to on-chain financial markets and related software applications, according to Odaily.

SEC Chair Paul Atkins said that software protocols, including DeFi, are difficult to classify clearly under the existing regulatory framework as exchanges, brokers, or clearing agencies. He explained that a single protocol can simultaneously perform trade execution, collateral management, liquidity routing, and settlement functions.

His remarks were interpreted as a sign that the SEC is taking a more open stance toward the digital asset industry. The SEC is also reviewing exemptions for tokenized securities and ways to clarify the classification framework for digital assets.

U.S. Spot XRP ETFs Record $6.047 Million in Daily Net Inflows

U.S. spot XRP ETFs recorded $6.047 million in net inflows on May 8 (U.S. Eastern Time), according to PANews, citing SoSoValue data.

The entire net inflow came from the Canary XRP ETF (XRPC). The ETF’s cumulative net inflows reached $438 million.

As of the time of reporting, total net assets of U.S. spot XRP ETFs stood at $1.115 billion, representing 1.26% of XRP’s market capitalization. Total cumulative net inflows reached $1.325 billion.

U.S. Spot SOL ETFs Record $6.2346 Million in Daily Net Inflows

U.S. spot SOL ETFs recorded $6.2346 million in net inflows on May 8 (U.S. Eastern Time).

PANews, citing SoSoValue data, reported that only the Bitwise Solana Staking ETF (BSOL) posted net inflows, bringing its cumulative net inflows to $862 million.

As of the time of reporting, total net assets of spot SOL ETFs stood at $987 million, with a net asset ratio of 1.82% relative to SOL’s market capitalization. Total cumulative net inflows reached $1.057 billion.

Tether Files Lawsuit Against Brazil’s Titan Holdings to Recover $300 Million Loan

Tether has filed a lawsuit against Brazil’s Titan Holdings to recover a defaulted loan worth $300 million.

According to PANews, citing Bitcoin.com, Tether Investments, the company’s investment subsidiary, provided Titan Holdings with a 12-month loan in March 2025, but alleged that repayment had not been made even after the March 28, 2026 maturity date.

Tether has asked a court in São Paulo, Brazil, to freeze the defendants’ bank accounts, financial investments, and other assets, including those of Titan Holdings and Master Holding.

Tether said the loan was not part of the reserves backing USDT issuance, but rather part of a separate lending portfolio. Banco Master was liquidated last November after Brazil’s central bank found a $2.2 billion reserve shortfall.

Aave Advances to Phase 2 of Technical Recovery Plan for rsETH Incident

According to Odaily, Aave said the technical recovery plan for the rsETH incident has progressed to phase 2.

Aave explained that on May 6, eight hacker positions on Aave V3 were liquidated, and the recovered rsETH collateral was transferred to a recovery administrator.

The Arbitrum DAO previously approved a proposal to return $71 million worth of recovered ETH. A court also approved Aave LLC’s proposal related to the asset seizure request, allowing the ETH to be transferred to Aave LLC through an on-chain vote by the Arbitrum DAO.

Aave plans to burn the rsETH on Arbitrum and restore the rsETH reserves. After the reserves are restored, withdrawals will be reopened and the WETH LTV on the Aave V3 Ethereum Core network will also be reinstated.

Coinbase CEO Says Architecture Will Be Reassessed After Service Outage

Coinbase CEO Brian Armstrong said on X that the service outage that occurred the previous day was “unacceptable” and that the company will reassess architectural trade-offs to significantly reduce downtime in the future.

Armstrong said the root cause of the outage was the simultaneous failure of multiple cooling devices at an AWS data center, which caused overheating in one of the facilities. He explained that most Coinbase systems remained operational because they were redundant against a single availability zone failure, but due to the nature of a centralized exchange, it is difficult to fully absorb availability zone failures while maintaining low-latency trading and customer colocation.

He said Coinbase will review its architecture to reduce downtime when availability zone failover is required, and added that AWS and Coinbase teams worked throughout the night to restore services. Coinbase plans to release a more detailed technical explanation later.

a16z Crypto Says Tokenized Real-World Asset Market Surpasses $30 Billion

a16z Crypto said on X that the tokenized real-world asset (RWA) market has surpassed $30 billion and has grown 10-fold in two years.

According to the firm, about half of the market consists of U.S. Treasuries. The market appears to be expanding as institutional investors increase demand to manage traditional financial products such as Treasuries, commodities, equities, and private credit on blockchain-based infrastructure.

RWA has long been viewed as a sector for bringing stable yield-bearing assets on-chain. More recently, the composition of the market has become more diversified as asset classes beyond U.S. Treasuries gain a larger share.

Moscow Exchange to Launch Cash-Settled Futures Based on Solana, XRP, and Tron Indices for Qualified Investors

The Moscow Exchange will begin trading cash-settled futures based on digital asset indices for Solana, XRP, and Tron for qualified investors starting May 14.

According to PANews, citing Bits.media, the futures will be settled in Russian rubles, and no physical delivery of digital assets will take place.

The contracts will have a one-month maturity, with the last trading day falling on the last Friday of each month. Contracts expiring in June, July, and August will be available for trading starting May 14.

The Moscow Exchange had previously announced that it would begin calculating and publishing four cryptocurrency indices—Solana, XRP, Tron, and BNB—starting May 13.

UBS Group Purchases Additional $98 Million in MSTR Shares

UBS Group purchased an additional $98 million worth of MSTR shares, increasing its holdings to about $1.12 billion.

According to PANews, the latest quarterly 13F filing with the U.S. SEC showed that UBS Group acquired 551,121 shares of MSTR.

UBS now holds a total of 6.31 million MSTR shares. MSTR is commonly categorized as a Bitcoin-related stock due to its Bitcoin treasury strategy.