BlackRock has formally opposed the U.S. Office of the Comptroller of the Currency's (OCC) proposed 20% cap on tokenized reserve assets. In a comment letter, BlackRock argued that such a restriction would impede the development of its financial products, including the BUIDL fund, which supports significant shares of Ethena’s USDtb and Jupiter’s JupUSD. The asset management giant also urged the OCC to clarify the eligibility of Treasury ETFs as reserve assets and advocated for the inclusion of two-year floating-rate Treasuries in the list of qualified assets. BlackRock's stance highlights the potential impact of regulatory measures on the growth and innovation of tokenized financial products.