Global asset management giant VanEck announces the launch of its first "Real World Asset (RWA)" fund VBILL, targeting U.S. Treasury bonds and supporting four major blockchains, officially joining the army of traditional financial institutions venturing into on-chain assets, symbolizing the deep integration of traditional finance and blockchain, and heralding a new wave of asset tokenization that is rapidly unfolding.
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ToggleVanEck Launches First Tokenized U.S. Treasury Fund VBILL
VanEck announced yesterday that it has partnered with financial tokenization platform Securitize to launch the RWA fund named "VBILL", providing an on-chain investment channel for U.S. Treasury bonds, with Wormhole providing cross-chain technical support.
VBILL will first be deployed on four major blockchains: Ethereum, Solana, BNB Chain, and Avalanche, allowing investors to obtain the same asset exposure and rights as traditional U.S. Treasury bonds.
Notably, the fund threshold differs: the minimum investment amount on Avalanche, BNB Chain, and Solana is $100,000, while on Ethereum it is raised to $1 million, clearly targeting high-net-worth institutional investors.
Direct Confrontation with BlackRock and Franklin Templeton: RWA Competition Heats Up
The launch of VBILL symbolizes VanEck's direct confrontation with BlackRock's BUIDL and Franklin Templeton's BENJI, competing for the on-chain Treasury fund market. Earlier this year, asset management giant Apollo also launched a tokenized fund for private credit, indicating that traditional capital markets are beginning to move assets on-chain.
Data from RWA.xyz shows that the largest tokenized asset class globally is private credit, followed by U.S. Treasury bonds, with a market value of $6.9 billion. VanEck's choice of U.S. Treasury bonds as its entry point targets assets with "strong liquidity" and "stable demand".
Blockchain Technology Empowerment: Tokenization Accelerates Asset Market Innovation
The biggest advantage of RWA is transforming traditional assets with low liquidity into digital tokens that can be traded instantly on-chain. Compared to traditional settlement processes that take days, on-chain transfers only take seconds to minutes, saving time and significantly reducing operational costs.
Securitize, VanEck's partner this time, is a leader in the field, having successfully tokenized over $3.9 billion in assets. This year, the platform has received strategic investments of $47 million led by BlackRock and from Jump Crypto, demonstrating traditional finance's high recognition of its technology and business model.
SEC Chairman Supports: RWA Will Be the Turning Point of Financial Market Digitization
A few days ago, at the SEC's roundtable meeting, Chairman Paul Atkins stated that the emergence of RWA is like the revolution of the music industry from analog to digital:
Blockchain technology can open up new ways of issuing, trading, and holding securities, which is not just a system optimization, but may also give birth to entirely new market activities.
He added, "Most existing regulatory frameworks are still based on past market structures. Facing the new models of on-chain assets and smart contracts, the SEC must rethink the balance between supervision and innovation."
The Golden Age of RWA Has Quietly Begun
From VanEck, BlackRock to Franklin, leading asset management institutions are heavily betting on the RWA field. With technological maturity and a changing regulatory attitude, future investments may not only include bonds, but also real estate or art, potentially becoming mainstream on-chain assets.
As the on-chain asset ecosystem gradually takes shape, RWA is no longer just an experimental ground in the crypto field, but has become a key engine for the digitalization reform of the global financial system.
Risk Warning
Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
Upexi, invested in by crypto market maker GSR, has transformed into a Solana version of MicroStrategy. Not only did it purchase discounted locked SOL, but after reaching asset scale of $100 million, it announced a collaboration with BitGo to manage its growing digital asset portfolio using their secure custody and over-the-counter trading services.
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ToggleUpexi Transforms into Solana Version of MicroStrategy
Upexi is a company headquartered in Florida, USA, specializing in brand ownership for consumer product development, manufacturing, and distribution.
The company previously reached an agreement with investors to sell approximately 43.9 million common shares or pre-funded warrants at $2.28 per share through a private placement, with total proceeds of $100 million.
The transaction was led by GSR, with participation from many well-known crypto venture capital firms, such as Delphi Ventures, Maelstrom (Arthur Hayes family office), and others.
The company plans to use about $5.3 million for operating capital and debt reduction, with the remaining funds to be used for establishing the company's Solana financial operations and purchasing Solana.
Upexi Purchases Discounted Locked SOL, Owns $100 Million in Assets
According to a report by The Block, Upexi has signed an agreement with crypto custody institution BitGo to utilize their secure custody and over-the-counter trading services to manage its growing digital asset portfolio.
Upexi announced on Monday that it purchased 326,347 discounted locked SOL at an average price of $135.22 per token, doubling its Solana holdings to over 595,000 SOL tokens, valued at approximately $100 million.
GSR Develops New Crypto Approach, Acquires Small Company to Become Crypto Company
The well-known crypto market maker GSR has now developed a new investment approach: purchasing a very small publicly traded company and converting it into a crypto-type company, then selling its stocks at a premium. Here, "purchasing" does not mean "acquiring 100% of shares and privatizing," but rather "buying new shares of the company with cash to control it, investing its funds into cryptocurrency, and then selling more shares" - like a Solana version of MicroStrategy Strategy.
The UPXI stock initially purchased at $2.28 has now directly risen to $10, even reaching as high as $22 at one point. This investment method seems more effective. Although this does not yet account for newly issued shares, initial investors have likely already made strategic plans.
The purchased SOL tokens can also be used as validator nodes to earn over 6% returns. These small companies, after being acquired, directly transform into crypto companies tied to crypto asset prices and operating methods, which may only be possible in a bull market.
Risk Warning
Cryptocurrency investment carries high risks, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
