BlackRock reorganizes to launch Genius Act-compliant money market fund BSTBL, extends trading hours

According to Foresight News, BlackRock, an asset management company with $13.5 trillion in assets under management, announced that it has reorganized one of its money market funds and developed an investment strategy designed to attract stablecoin issuers. One of its defining attributes is that it complies with the Genius Act of the U.S. Stablecoin Act. The reorganized fund is now called the BlackRock Select Treasury Bond Liquidity Fund (BSTBL) and aims to have higher liquidity than its previous version. The fund will also extend its trading deadline from 2:30 p.m. to 5:00 p.m. ET, providing greater access to investments.
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