BlackRock has launched tokenized share classes for select European money market funds, using JPMorgan’s Kinexys platform. The initiative introduces Ethereum-based tokens representing fund share classes, with the launch aimed at professional investors. According to reports, the tokenized offering covers money market funds with $311 billion in assets. The tokenization is structured as share classes issued on-chain rather than a new fund, and it is positioned as part of BlackRock’s broader efforts to apply blockchain technology to cash management and distribution. The rollout is limited in scope and access, with coverage focused on specific European funds rather than a fully open retail offering. Both outlets describe the same core elements: BlackRock is the issuer, Ethereum-based tokenized share classes are used, JPMorgan Kinexys enables the technology, and the initial deployment targets professional participants. The companies do not indicate that the launch changes the underlying role of the money market funds; instead, it changes how certain share classes are represented and accessed through token issuance and related infrastructure.