BlackRock urges OCC to drop tokenized reserve cap idea, expand eligible assets in GENIUS Act comment letter
BlackRock filed a comment letter Friday urging the OCC to scale back several proposed reserve asset restrictions in its draft rules implementing the GENIUS Act.The world’s largest asset manager opposed a potential 20% cap on tokenized reserve assets, a constraint that would limit products like its BUIDL fund, which backs more than 90% of Ethena’s USDtb and Jupiter’s JupUSD.BlackRock also asked the agency to confirm that Treasury ETFs qualify as reserves and to add two-year Treasury floating-rate notes to the eligible asset list.
2026-05-03 06:19:00
