The invention provides an aqueous bleaching solution for substrate treatment. The aqueous bleaching solution features a source of oxidant and a plurality of optically functional nanoparticles. The optically functional nanoparticles are nanoparticles in the range of about 0.1 nanometers to about 400 nanometers in size. The aqueous bleaching solution may optionally include one or more an oxidant-stable surfactants and optionally, one or more oxidant-stable polymers, and adjuncts. The optically functional nanoparticles are extremely stable in the aqueous bleaching solution and remain substantially suspended in the aqueous bleaching solution due to their extremely small size despite having an average density greater than that of the bleaching solution. The optically functional nanoparticles provide at least one optical functional benefit to the bleaching solution owing to their uniform and stable suspension throughout the solution, including such benefits as uniform light absorption, light and radiation scattering, fluorescent emission, phosphorescent emission, coloration, and visual aesthetic benefits and the like. Further, optically functional benefits include those benefits provided to a substrate or surface treated with the aqueous bleaching solutions whereby the optically functional property is transferred either temporarily or permanently to the substrate or surface following contact with bleaching solutions containing the optically functional nanoparticles.