VanEck Launches First Tokenized Fund for U.S. Treasury Debt
VanEck has launched its first tokenized fund, the VanEck Treasury Fund (VBILL), in collaboration with Securitize. This fund provides on-chain access to short-term U.S. Treasury debt across multiple blockchain networks: Avalanche, BNB Chain, Ethereum, and Solana.
- Minimum investment: $100,000 on most blockchains; $1 million on Ethereum
- Assets held by State Street, priced daily using Redstone's oracle service
- Token supports transactions with Circle's USDC stablecoin and atomic liquidity with Agora's AUSD stablecoin
- Market for tokenized U.S. Treasuries has grown over 500% in the past year, valued at nearly $7 billion
- Other firms like BlackRock and Franklin Templeton have also launched tokenized products
This initiative aims to enhance market liquidity and efficiency in integrating digital assets into traditional financial markets.