“The fund offers exposure to collateralized loan obligations, with onchain capital allocator Grove planning a $100 million anchor investment.”, — write: www.coindesk.com
The Securitize Tokenized AAA CLO Fund (STAC), available on the Ethereum network, aims to offer on-chain investors exposure to collateralized loan obligations (CLOs), according to a press release on Wednesday.
BNY will act as custodian of the fund’s assets, while investment management will be handled by Insight, a BNY subsidiary focused on fixed income and structured credit strategies.
Grove, the onchain credit-focused capital allocator of DeFi protocol Sky (SKY), plans to place $100 million into the fund as an anchor investor, according to the release.
The offering aims to bring one of the most stable credit products onto blockchain rails as demand for tokenized assets accelerates. BCG and Ripple projected that the tokenized real-world asset (RWA) market could reach $18.9 trillion by 2033, up from $35 billion currently.
CLOs bundle corporate loans into tranches of varying risk levels. AAA-rated tranches, the most secure, offer floating-rate exposure that typically appeals to institutional investors.
Historically, these investments have been difficult to access or slow to settle. Tokenizing the fund’s shares could change that by enabling faster settlement, improved distribution and easier fractional ownership.
“For clients who are searching for yield, tokenization is a great way to improve access to high-quality credit in an efficient and transparent instrument,” said Jose Minaya, the global head of BNY Investments and Wealth.
Securitize has issued $4.5 billion of tokenized assets such as equities and funds, including BlackRock’s tokenized money market fund BUIDL.
The company filed plans this week to go public by merging with a Cantor Fitzgerald SPAC at a $1.25 billion valuation, aiming to become the first US listed end-to-end tokenization firm.
Read more: Tokenization Firm Securitize Aims for Public Listing Via SPAC Deal at $1.25B Valuation
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The high-speed Ethereum layer-2 drew nearly nine times its target as over 14,000 investors rushed in.
- MegaETH’s auction attracted $450 million in bids within hours, with 819 wallets maxing out at $186,000 each and a total of 14,491 participants.
- Backed by Vitalik Buterin and Joe Lubin’s MegaLabs, the network targets 100,000 transactions per second with sub-millisecond latency.
- Santiment’s Brian Q said the rush highlights investor appetite but warned that synchronized buying could heighten volatility.
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