VanEck to launch first institutional RWA tokenized fund

Investment firm VanEck is launching a fund that tokenizes real assets (RWA).
VanEck said on the 13th (local time) that it would launch a fund called VBILL, initially under the name Avalanche and then under the name BNB.
The minimum subscription amount for Avalanche, BNB Chain, and Solana is $100,000, and the minimum subscription amount for Ethereum is $10,000.
The fund will start with a minimum investment of $1 million. The fund is targeted at institutional investors and has been funded by BlackRock's BUIDL, Frank
The launch marks Vantech's entry into the growing trend of traditional finance companies entering the RWA tokenization market.
In January of this year, investment firm Apollo, which has $751 billion in assets under management, also launched a private credit-based tokenized fund.
With a market capitalization of $6.9 billion, U.S. Treasury bonds are the second-largest asset class for tokenized funds after private credit, according to data from RWA.xyz.
VanEck's partner, Securitize, has tokenized over $3.9 billion in assets to date and is set to complete a strategic investment round led by BlackRock in May 2024.
The company raised $47 million in funding.