BlackRock's Harsh Reaction to the GENIUS Act: ENA Effect

BlackRock, the world's largest asset manager, strongly reacted to the tokenized reserve asset limitations in the draft rules implementing the GENIUS Act with a comment letter sent to the Office of the Comptroller of the Currency (OCC) on Friday. The firm demanded the removal of the proposed 20% upper limit on tokenized assets in the reserves of PPSIs—that is, institutions issuing stablecoins under federal authorization. BlackRock officials argued that such a quantitative rule is inconsistent with the OCC's objectives and that risk depends on credit quality, maturity, and liquidity; they emphasized that whether assets are held on a distributed ledger is irrelevant. The letter coincided with the last day of the OCC's 60-day comment window and contained responses to over 200 questions.

BlackRock BUIDL and Tokenized Treasury Products

BlackRock's BUIDL fund manages approximately $2.6 billion in assets according to RWA.xyz data, positioning it as the largest tokenized Treasury product; it provides more than 90% of the reserves for Ethena's USDtb, linked to ENA detailed analysis, and Solana-based Jupiter's JupUSD. Circle's USYC leads with $2.9 billion. The firm also sought clarity that ETFs investing only in eligible reserve assets would count as reserves under Section 4 of the GENIUS Act.

Critical Support and Resistance Levels for ENA

• Supports: S1: $0.0991 (Strong, 76% score, -3.32% distance)
• S2: $0.0945 (Medium, 56% score, -7.80% distance)
• Resistances: R1: $0.1058 (Strong, 71% score, +3.22% distance)
• R2: $0.1167 (Strong, 67% score, +13.85% distance)

ENA price $0.10, 24h +1.38%, RSI 48.07 (sideways trend, Supertrend bearish). BlackRock's defense of tokenized reserves could strengthen the Ethena ecosystem; follow ENA futures.

BlackRock's GENIUS Act Demands and ENA

Supporting the OCC's flexible “Option A” in reserve diversification, BlackRock opposed “Option B” which includes mandatory daily rules. It advocated adding U.S. Treasury floating-rate notes. The letter was signed by Roland Villacorta and Benjamin Tecmire. This intervention reinforces the role of tokenized assets in stablecoin reserves.

Frequently Asked Questions about ENA and the GENIUS Act

How does BlackRock's tokenized reserve demand affect ENA?
By supporting Ethena's USDtb reserves, it could increase ENA demand and push the price to R1 $0.1058.

What is the GENIUS Act?
OCC draft mandating 2027 compliance for stablecoin issuers.

What is ENA's current trend?
Sideways, Supertrend bearish signal; S1 $0.0991 critical support.