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51 Insights

CEO Notes

BlackRock's stablecoin loophole

Marc Baumann's avatar
Sangam Bharti's avatar
Marc Baumann and Sangam Bharti
May 11, 2026
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Hey, it’s Marc,

Stablecoins can’t pay yield by law. So, BlackRock filed something that legally isn’t a stablecoin.

On May 8, 2026, BlackRock filed two SEC registration statements.One turns a $7B Treasury money market fund (TFFXX) into a live token on Ethereum. The other launches a crypto-native Treasury vehicle that pays roughly 4% yield, accrued daily. …

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