BlackRock Reserve
BRSRVBRSRV is a proposed BlackRock tokenized reserve instrument filed through Securitize, backed by money market fund shares holding US Treasuries, repo and cash. Like its sibling filing it targets institutional on-chain cash management, but remains pending, illiquid and institutional-only, with redemption terms still to be confirmed. BRSRV carries a provisional RWTS Trust Score of 75/100 (Tier 2): strong underlying reserves but no live product, no defined redeemability and no operating history yet. The rating is interim and will be revisited once the instrument launches and reserves are independently attested.
- Issuer / protocol
- BlackRock / Securitize
- Backing
- Money market fund shares (US Treasuries, repos, cash)
- Redemption / lock-up
- Institutional-only at launch. Redemption window TBD.
- Audit & proof of reserves
- Independently audited
- Availability
- Global
- Chain
- Ethereum
- Tier
- Tier 2 — Treasury & Fiat-Backed
Scored on the published RWTS methodology (v1.1), reviewed quarterly and on material events. Ratings are independent and never pay-influenced.
Calculations are indicative. Actual yields may vary.
Price data from CoinGecko. Not financial advice.
Projections assume constant APY of 0.00%. Actual returns may vary. Not financial advice.
Beyond BRSRV's own score, two structural questions matter: what is it built on, and what has broken before in this part of the market. A high score in isolation can still carry hidden, shared exposure.
What this and similar assets are built on, and where contagion could spread.
The depegs, defaults, and exploits that inform the Track Record dimension.
Liquidity read: TVL of $50.00M indicates developing on-chain liquidity. Lock-up: Institutional-only at launch. Redemption window TBD..
Is BRSRV safe?
BRSRV (BlackRock Reserve) scores 75/100 on the independent RWTS Trust Score, which places it in Treasury & Fiat-Backed (Tier 2). Tier 2 is strong: institutional or fiat backing with solid verification, a notch below fully-reserved physical assets. Backing: Money market fund shares (US Treasuries, repos, cash). It is independently audited. The score reflects backing, verification, redeemability, audit, regulatory standing, and track record, not headline yield. We rate. You decide.
Exit routes
9/15 · right 6/8 · routes 3/7If the issuer stopped cooperating tomorrow, could you get out?
One route, and it does not depend on the issuer
- independent
BlackRock via Securitize
Same manager and same transfer agent as BSTBL; the redemption obligation runs to a regulated fund.
- issuer
none
No venue carries volume and no pool clears the capacity floor. For a permissioned fund this is design, not defect: the token cannot be held by an unapproved address, so a public market cannot form.
Route 3: one route, and it is enforceable against a regulated manager rather than merely promised. Right 6 because access is gated by qualification and the minimum is institutional. There is no independent route, and for a permissioned fund there cannot be one.
This is the redeemability component of the Trust Score above, which stands at 75/100 (B+). Until 1 September 2026 redeemability was a single figure measuring the right to redeem while ignoring how many routes existed to exercise it. Splitting it moved this asset’s score. How the score works
Assessed 2026-09-01. Route independence asks how many ways out the issuer cannot close, not how much the asset trades.
Compare BRSRV
Head to head on the Trust Score with similar assets.