BLACKROCK FUNDS III
BlackRock Cash Funds: Treasury
BLACKROCK FINANCIAL INSTITUTIONS SERIES TRUST
BlackRock Summit Cash Reserves Fund
BLACKROCK FUNDSSM
Circle Reserve Fund
BLACKROCK SERIES FUND, INC.
BlackRock Government Money Market Portfolio
BLACKROCK VARIABLE SERIES FUNDS, INC.
BlackRock Government Money Market V.I. Fund
(each a “Fund” and collectively, the “Funds”)
Supplement dated March 28, 2024 to the Prospectuses and Statement of Additional Information of each Fund
Effective on April 2, 2024, each Fund will be required to increase its minimum levels, at the time of purchase, of daily and weekly liquid assets from at least 10% and 30%, respectively, to at least 25% and 50%, respectively.
Shareholders should retain this Supplement for future reference.
PRSAI-MMGOV-0324SUP