A new liquidity network backed by firms including BlackRock ( BLK ) and Janus Henderson ( JHG ) aims to make the $15 billion tokenized mutual fund market outperform their traditional counterparts.
Grove, a blockchain-based credit infrastructure specialist, on Thursday unveiled a facility designed to provide instant stablecoin liquidity to investors exiting tokenized real-world asset funds. The platform will offer up to $1 billion in committed daily liquidity at launch.
The product, called Basin, targets one of the biggest shortfalls in the fast-growing tokenized financial market. While blockchain-based funds promise around-the-clock trading and near-instant transfers, many still rely on traditional settlement rails when investors redeem shares, often creating delays measured in days rather than minutes.
Basin is designed to bridge this gap by promoting stablecoin liquidity against approved redemptions or transfers while underlying fund settlement continues through normal channels. The first two tokenized funds to benefit from the facility are BlackRock’s $2.2 billion BUIDL, issued by Securitize, and the $1.1 billion Janus Henderson Anemoy Treasury Fund (JTRSY), tokenized by Centrifuge.
BlackRock and Janus Henderson join Basin as launch asset managers, while Securitize and Centrifuge provide tokenization infrastructure. Anchorage Digital, Galaxy Digital and FalconX will connect institutional clients to the liquidity network.
The launch comes as the tokenized US financial sector has become one of crypto’s fastest-growing markets, expanding over 130% over the past year to surpass $15 billion in assets. Global asset managers including BlackRock, Franklin Templeton and JPMorgan have rolled out tokenized products over the past few years as Wall Street pushes deeper into blockchain infrastructure. Institutions are increasingly using these funds to park cash in blockchain-based versions of money market funds.
Proponents say tokenization can modernize finance by making assets programmable, easier to transfer and available for use as collateral across digital markets. However, many products still mirror traditional systems operationally, limiting some of the efficiency gains that blockchain technology promises.
“There is significant potential for tokenization to improve how capital markets work, but unlocking real benefits for investors requires addressing the underlying infrastructure,” Robbie Mitchnick, BlackRock’s global head of digital assets, said in a statement. “By reducing settlement friction and increasing liquidity, solutions like Grove Basin represent an important step toward making tokenized funds more efficient and more usable for institutional investors.”
“We’ve seen a few smaller facilities, but none that have come close to Grove’s size and scale,” Bhaji Illuminati, CEO of Centrifuge, one of Basin’s tokenization partners, said in a statement. “This is a big step towards making onchain assets better than their offchain equivalents.”
