According to CoinMeta, Blackstone Group launched two new products on August 3 that comply with the GENIUS legislation, namely Blackstone Select Treasury Liquidity Fund (BSTBL) and Blackstone Daily Reinvestment Stablecoin Reserve Tool (BRSRV). These two funds are designed to be in line with the US Stablecoin Act passed in 2025. Martin Small, Blackstone's Chief Financial Officer, stated during the company's second-quarter 2026 earnings conference call that Blackstone currently manages approximately $60 billion in reserves for Circle, which accounts for about a quarter of the $300 billion stablecoin market. BSTBL is a tokenized version of Blackstone's existing money market funds, with assets of around $7 billion, holding cash, short-term US Treasuries, and overnight repurchase agreements backed by government securities. BRSRV is specifically designed for crypto-native institutional investors, with automatic daily reinvestment of dividends, making it suitable for institutions that manage stable reserve balances. Both funds comply with the requirements of the GENIUS legislation, and Blackstone is positioning itself as a key reserve option for stablecoin issuers.