#TokenizedFunds
67 articles tagged #TokenizedFunds — curated RWA tokenization coverage.
25% of tokenized fund assets on Ethereum now deployed in DeFi
The utilization of tokenized fund assets within DeFi protocols on Ethereum has surged from 8% to 25% over the past three years, signaling a shift toward productive on-chain capital. Major financial institutions, including BlackRock, JPMorgan, and UBS, are increasingly tokenizing money market funds and Treasury products to leverage 24/7 settlement capabilities. BlackRock’s BUIDL fund, launched in 2024, serves as a primary example, having been integrated as collateral by protocols like Ethena and Spark before enabling direct trading on Uniswap. Other firms like VanEck have launched funds specifically designed for DeFi collateral utility, moving beyond standalone investment products. This integration improves the quality of collateral within DeFi, replacing speculative assets with high-quality, yield-bearing instruments. However, this transition introduces new systemic risks, including unresolved regulatory frameworks for permissionless interaction and potential infrastructure-level vulnerabilities on Ethereum. As Standard Chartered projects a multi-trillion dollar market, the ability to bridge traditional finance settlement cycles with on-chain liquidity remains a critical development for institutional adoption.
UK’s Baillie Gifford Brings Native Tokenized Fund to Ethereum
UK-based investment manager Baillie Gifford has launched the Baillie Gifford Enhanced Yield Fund (BAGEY) natively on the Ethereum blockchain. This deployment marks a significant shift in RWA tokenization, as the blockchain serves as the legal register of record for investor ownership rather than relying on traditional transfer agents. By issuing the fund interests directly on-chain, the firm eliminates the need for separate off-chain record-keeping systems, which simplifies administration and enhances auditability. This move follows the firm's recent launch of a similar product on the Solana blockchain, signaling a broader strategy to integrate public infrastructure into regulated financial products. The BAGEY fund focuses on short-duration government and corporate bonds, utilizing the blockchain to streamline reconciliation and transparency. Unlike many existing tokenized products that act as wrappers for traditional funds, these tokens represent the actual fund interests themselves. This development underscores a growing trend among major asset managers to move beyond pilot programs toward live, regulated on-chain financial architecture.
Morgan Stanley Eyes Tokenized Funds After Bitcoin ETF Debut
Following the launch of its spot Bitcoin ETF, Morgan Stanley is actively expanding its digital asset strategy to include tokenized money-market funds. Amy Oldenburg, the firm's head of digital-asset strategy, confirmed that the bank views its initial Bitcoin product as a foundational step toward broader blockchain-based offerings. The firm is specifically evaluating tokenized funds backed by short-term government securities, a sector currently dominated by BlackRock’s $2.3 billion BUIDL fund and Franklin Templeton’s pioneering model. Beyond money-market instruments, Morgan Stanley is exploring the application of tax-loss harvesting strategies to digital assets through its subsidiary, Parametric. This shift signals a growing institutional appetite for programmable, yield-bearing assets that offer greater tax efficiency for investors. By prioritizing product efficiency over immediate fee maximization, as evidenced by its competitive 0.14% expense ratio on its Bitcoin ETF, the bank is positioning itself to capture market share in the evolving RWA landscape. This move underscores a broader industry trend where major financial institutions are transitioning from simple crypto-exposure products to complex, tokenized financial instruments.
Franklin Templeton BENJI Data Shows Stellar Still Anchors Holder Base
Franklin Templeton’s BENJI suite, representing the Franklin OnChain U.S. Government Money Fund (FOBXX), has reached $1.98 billion in assets across nine different blockchains. Launched in April 2021, this initiative stands as one of the longest-running regulated tokenized fund experiments in the public blockchain market. While the fund has expanded its institutional reach to networks like Ethereum, Base, and Solana, Stellar remains the primary anchor for the project. Data indicates that 95% of the fund's 1,023 distinct holders are concentrated on the Stellar network, which continues to lead in RWA inflows. The BENJI token maintains a $1.00 NAV and provides investors with exposure to government securities, cash, and repurchase agreements. This multi-chain strategy highlights a growing trend in tokenized finance where asset value is distributed across various chains while user activity remains concentrated on specific, reliable networks. The success of the BENJI platform underscores the increasing institutional adoption of regulated, onchain money-market products.
BNY sees FOMO driving asset managers into tokenized funds
Institutional fear of missing out is accelerating the adoption of tokenized money market funds, with BNY and Goldman Sachs establishing the foundational infrastructure for the sector. In July 2025, the two firms launched a mirrored tokenization system that integrates BNY’s LiquidityDirect platform with Goldman Sachs’ GS DAP blockchain layer. This infrastructure has enabled major asset managers, including BlackRock, Fidelity, and Northern Trust, to launch tokenized share classes, with over $1 billion in assets now overseen by the SEC. The momentum is significant, as evidenced by 168 new tokenization assets launched in 2025 and BlackRock’s BUIDL fund reaching $2.1 billion in AUM. Furthermore, Baillie Gifford recently introduced the BAGEY bond fund, utilizing BNY’s custody services across both Solana and Ethereum. This shift toward tokenization offers tangible benefits such as faster settlement and reduced operational friction compared to legacy systems. While the industry is expanding rapidly, risks regarding smart contract security, custody complexity, and infrastructure concentration remain critical considerations for market participants. The successful integration of public blockchains like Solana for institutional products marks a pivotal development in the evolution of traditional finance settlement layers.
WisdomTree wins awards for tokenized funds and onchain infrastructure
WisdomTree has been honored at the Future of Finance Awards 2026 for its advancements in tokenized funds and onchain infrastructure. The firm received recognition for its WisdomTree Connect platform, which facilitates the integration of tokenized assets into broader financial ecosystems. By leveraging blockchain technology, WisdomTree aims to modernize traditional investment vehicles, enhancing transparency and operational efficiency for institutional and retail investors. This award underscores the growing industry validation of WisdomTree's strategy to bridge legacy finance with decentralized ledger technology. The recognition highlights the company's role in scaling onchain financial services, moving beyond experimental phases toward standardized market adoption. As a major asset manager, WisdomTree's continued success in this space signals a shift in how traditional firms approach digital asset infrastructure. This development is significant for the RWA market as it demonstrates that established financial institutions are successfully deploying scalable, award-winning solutions for tokenized investment products.
Franklin OnChain U.S. Government Money Fund BENJI from Franklin Resources Inc. - tokenized cash with - Ad-hoc
The Franklin OnChain U.S. Government Money Fund, known as BENJI, represents a significant integration of traditional mutual fund structures with public blockchain technology. By tokenizing shares of a fund that invests in U.S. government securities and repurchase agreements, Franklin Resources enables investors to hold and transfer assets via digital wallets rather than traditional account systems. This product maintains a stable one-dollar net asset value, offering yield derived from short-term government paper rather than crypto-native lending protocols. The fund utilizes traditional custody rails for the underlying assets while recording ownership on a public blockchain to facilitate near-real-time settlement. Strategic partnerships with firms like SCRYPT and Cap demonstrate the growing utility of BENJI as a treasury management tool for digital-asset platforms. While the fund offers modern plumbing for familiar risk, adoption remains primarily focused on crypto-native firms due to the operational requirements of managing private keys and on-chain compliance. Ultimately, BENJI serves as a flagship experiment for Franklin Resources to bridge the gap between legacy asset management and the evolving digital infrastructure of the financial sector.
Inside SkyEcosystem’s Tokenized Fund Leadership — What It Means for Investors
SkyEcosystem has officially secured the position of the largest issuer of tokenized funds, currently commanding an 18.4% market share according to data from Token Terminal. This development highlights a significant capital rotation within the cryptocurrency sector as investors move away from non-yielding stablecoins in search of higher returns. By leveraging a network of Agents to provide yield-bearing assets, the firm is capitalizing on the growing demand for real-world asset integration. While the broader crypto market exhibits mixed momentum, SkyEcosystem's leadership underscores the increasing institutional and retail appetite for tokenized financial products. Despite this market dominance, the platform currently reports a trading volume of $0, suggesting a period of cautious observation among market participants. This shift toward tokenization represents a fundamental evolution in investment strategies, positioning yield-bearing assets as a primary driver of value creation. The firm's ability to maintain this lead will be a critical indicator for the future of the RWA sector as it navigates evolving regulatory frameworks and competitive pressures.
Bitcoin Skeptic ‘Dr. Doom’ Roubini Launches Tokenized Fund USAFi
Nouriel Roubini, a prominent critic of unbacked cryptocurrencies, has launched USAFi, a tokenized version of his existing Atlas America Fund. The fund currently manages approximately $17 million in assets, focusing on a conservative portfolio of U.S. Treasury bonds, gold, and real estate investment trusts. By transitioning to a tokenized structure, the fund aims to leverage blockchain technology to enhance liquidity and accessibility for investors seeking exposure to traditional assets. This move highlights a growing trend where traditional finance figures adopt blockchain for operational efficiency while maintaining a strict separation from speculative digital assets. Roubini’s entry into the space is significant because it provides institutional credibility to the tokenization of regulated, asset-backed instruments. The initiative serves as a bridge between legacy financial systems and modern digital infrastructure, emphasizing regulatory compliance over decentralized finance. Ultimately, the launch demonstrates that skepticism toward cryptocurrencies does not preclude the adoption of blockchain-based innovations for traditional investment vehicles.
BNY Tokenized Fund FOMO: Are Asset Managers Racing to Avoid Missing the On-Chain ETF Layer?
Asset managers are increasingly launching tokenized funds to secure a foothold in the emerging on-chain distribution layer, driven by the fear of missing out on institutional adoption. BNY Mellon has emerged as a critical infrastructure provider, acting as custodian and sub-adviser for major projects like Baillie Gifford’s BAGEY fund and Securitize’s STAC CLO fund. These initiatives utilize public blockchains like Ethereum and Solana to offer ETF-like features, including frequent liquidity windows and automated compliance. As of June 15, 2026, the value of transferable real-world assets (RWAs) reached $31.63 billion with over 910,000 holders, signaling a shift toward native on-chain financial products. By leveraging BNY Mellon’s regulated status, managers are bridging the trust gap between traditional finance and Web3, aiming to build operational expertise before industry standards solidify. This trend highlights a strategic move to prioritize early distribution channels and operational muscle memory over waiting for perfect regulatory clarity. Ultimately, the race to tokenize reflects a broader transition where traditional firms seek to integrate blockchain efficiency into their existing fund-accounting and compliance frameworks.
Allfunds brings tokenized fund distribution to Solana blockchain
European asset manager Allfunds has partnered with the Solana network to integrate its blockchain infrastructure into the Allfunds Blockchain platform for tokenized fund offerings. This collaboration provides over 3,300 institutional fund managers and financial institutions access to on-chain channels while maintaining existing workflows. As of March 2026, Allfunds managed approximately €1.8 trillion in assets, highlighting the significant scale of this integration. Technical implementation is managed by ioBuilders through its Asseto platform, which ensures institutional compliance and issuance standards, while Particula conducts risk assessments for eligible products. This move signals growing institutional confidence in utilizing open blockchain infrastructure for traditional capital markets. By leveraging Solana’s high transaction throughput and low costs, Allfunds aims to connect traditional finance with Web3 liquidity pools. This development marks a strategic expansion for Solana, positioning the network as a viable infrastructure for regulated European fund distribution.
JPMorgan Chase & Co (JPM) on Deals Lookout Amid Tokenized Fund Push
JPMorgan Chase & Co. is expanding its digital asset footprint by planning the launch of its second tokenized money market fund, the OnChain Liquidity-Token Money Market Fund (JLTXX). This proposed fund will invest exclusively in U.S. Treasuries and overnight repurchase agreements, allowing investors to hold tokens in digital wallets, transfer them, or utilize them as collateral within crypto markets. The initiative follows the successful launch of the bank's first tokenized fund, MONY, which debuted on the Ethereum blockchain in December. CEO Jamie Dimon also signaled the bank's capacity for significant acquisitions, potentially ranging from $10 billion to $20 billion, as part of a broader strategy to deepen its presence in the digital assets space. By leveraging the same Ethereum-based infrastructure used for MONY, JPMorgan continues to institutionalize blockchain technology for traditional financial products. This move underscores the growing trend of major financial institutions adopting tokenization to enhance liquidity and utility for institutional-grade assets. The expansion reflects a strategic commitment to integrating blockchain rails into core asset management operations.
Bitwise completes takeover of Superstate's $259M crypto carry fund
Bitwise has officially assumed management of the $259 million Crypto Carry Fund (USCC) from Superstate, marking a significant consolidation in the tokenized active-strategy market. The fund utilizes market-neutral crypto cash-and-carry trades to generate yield, currently reporting approximately 4% returns. Its portfolio comprises a diverse mix of cash collateral, tokenized Treasurys, and digital assets such as staked Solana, EtherFi's wrapped Ether, and XRP. While Bitwise takes over the fund's management, the USCC ticker and existing smart contracts remain unchanged, ensuring continuity for qualified purchasers. Superstate is pivoting its strategic focus toward its FundOS tokenized fund platform following this transition. This move highlights the rapid expansion of the tokenized active-strategy sector, which grew from $449 million to $1.38 billion in assets between June 2025 and May 2026. As major asset managers increasingly integrate crypto strategies into both tokenized vehicles and ETFs, this acquisition underscores the growing institutional appetite for sophisticated, yield-generating digital asset products.