Global asset management company Vaneck joins Tokenisation Race with its first chain product

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Global asset management company Vaneck has become the largest traditional investment services provider to join the token race.

On Tuesday, the company announced it would launch the Vaneck Financial Fund (VBILL), where investors can participate by purchasing the fund's tokens. The fund is marked on a Blackstone-backed real-world asset tagging platform.

In the global financial market, traditional financial services companies continue to adopt blockchain-based products, and this announcement continues to be a trend. Vaneck followed the pace of famous American asset management companies Belek, Fidelity and Franklin Templeton and launched tokenized products.

Vaneck Tokenise's U.S. fiscal fund will initially launch on the Avalanche, BNB chain, Ethereum and Solana networks, according to an announcement Tuesday. Its minimum investment requirement for most blockchains is $1 million, while Ethereum’s investment threshold is $1 million.

The pricing of the fund token will be updated daily through Redstone’s Oracle service and held by State Street.

Commenting on the announcement, Kyle Dacruz, Vaneck’s Director of Digital Assets, said in a statement: “By bringing our treasury to the chain, we provide investors with a secure, transparent and liquid cash management tool that further integrates digital assets into mainstream financial markets.”

The value of on-chain tokenized real-world assets soared to approximately $10 billion in April 2024, with the value of China's treasury accounts at $6.91 billion, according to data from RWA.xyz, a tracking platform that marks real-world assets.

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