BlackRock restructures and launches BSTBL, a money market fund compliant with the "Genius Act," and extends trading hours

Foresight News reported that asset management company BlackRock, which manages $13.5 trillion in assets, announced that it has restructured one of its money market funds and developed an investment strategy aimed at attracting stablecoin issuers. One of its defining attributes is compliance with the US stablecoin bill, the “Genius Act.” The restructured fund is now called the BlackRock USD Treasury Money Market Fund (BSTBL) and is designed 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. Eastern Time, thereby providing more investment channels.