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VanEck Launches Tokenized US Treasury Fund VBILL on Ethereum, Solana, BNB
VanEck Launches Tokenized US Treasury Fund VBILL on Ethereum, Solana, BNB
May 13, 2025
Asset manager VanEck has launched its first tokenized fund, the VanEck Treasury Fund (VBILL), in partnership with tokenization platform Securitize. The fund offers qualified investors access to U.S. Treasury-backed yield through a blockchain-native structure, offering real-time settlement and 24/7 liquidity.
In this initial launch phase, VBILL will be available on Solana, Avalanche, Ethereum, and BNB Chain. It represents a blockchain-based alternative to traditional money market funds. The fund targets institutional and qualified investors, with a minimum investment of $100,000 for most chains and $1 million on Ethereum.
Securitize Infrastructure and Wormhole Interoperability Power VBILL’s Reach
The launch is built on Securitize’s full-stack tokenization platform, which handles token issuance, fund administration, and broker-dealer services. This end-to-end infrastructure enables VBILL to function as a fully compliant and programmable financial product with enhanced liquidity and transparency.
To facilitate cross-chain interoperability, VBILL uses Wormhole, the leading blockchain bridge connecting traditional and decentralized finance. Wormhole enables near-instant transfers of VBILL tokens across supported blockchains. This improves asset mobility and enables broader adoption.
New launch: Securitize x VanEck – Bringing Treasuries On-Chain Today, we’re proud to announce the launch of $VBILL, @vaneck_us’ first tokenized fund, issued via Securitize and backed by short-term U.S. Treasuries. Now live across @avax, @Ethereum, @Solana, and for the first… pic.twitter.com/eO1YhDlWdV — Securitize (@Securitize) May 13, 2025
On-Chain Cash Management for Institutions
VBILL will serve a wide range of financial use cases, from institutional treasuries to market makers and crypto-native funds seeking on-chain yield. The fund supports on-chain USDC subscriptions, with atomic liquidity integration via Agora’s AUSD stablecoin.
According to VanEck, the goal is to bring the benefits of blockchain, such as transparency, programmability, and 24/7 accessibility, to traditional asset management products like Treasury funds. Notably, the fund’s assets are in the custody of State Street Bank and Trust Company. RedStone Oracles provide daily net asset value calculations. VBILL is also structured under the laws of the British Virgin Islands.
Tokenization Trend Accelerating
Notably, VanEck joins a growing list of major financial institutions, including BlackRock and Apollo, partnering with Securitize to bring real-world assets on-chain. Securitize boasts over $3.9 billion in tokenized securities on its platform.
According to Wormhole Foundation co-founder Dan Reecer, VanEck’s entry into tokenized U.S. Treasuries marks another important moment in the growing institutional adoption of on-chain finance. He emphasized that tokenization is playing a transformative role in reshaping capital markets.
Notably, the global tokenization market is expected to reach $2 trillion by the end of this decade. Products like VBILL seek to control a significant share of this market. Interestingly, other prominent names like Goldman Sachs have also disclosed intentions to join the tokenization market.
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