BlackRock is now running tokenized money market funds as backing for stablecoin reserves.

think about what that means for $BTC and $ETH. the largest asset manager on earth is embedding its products directly into the stablecoin infrastructure that moves capital across every chain.

this is not a pilot or a press release. it is BlackRock building the pipes.

the more traditional finance plugs into on-chain rails, the harder it becomes to argue crypto is a side market.

where do you think this goes for on-chain liquidity over the next cycle?