UBS launches tokenized money market investment fund on Ethereum

Investment giant UBS, the largest private bank in the world, today announced the launch of uMINT, or the "UBS USD Money Market Investment Fund Token," a tokenized investment fund on the Ethereum blockchain.

While UBS didn't disclose exactly which financial instruments made up the fund, it said the fund provides investors access to "high quality money market instruments based on a conservative, risk-managed framework" in a press release .

"We have seen growing investor appetite for tokenized financial assets across asset classes," Thomas Kaegi, co-head of UBS's Asian arm, said.

Ethereum is currently the largest blockchain for real-world asset tokenization, according to dashboard RWA.xyz , which tallies over $3 billion worth of tokenized assets on the network. About $3.9 billion worth of assets are currently tokenized onchain not counting private credit, according to the dashboard, with U.S. Treasury Debt forming the largest subset.

The value of tokenized assets on Ethereum has grown nearly 4% in the last 30 days, according to the dashboard. BlackRock's $BUIDL has the highest market cap for products that hold U.S. Treasuries with over $523 million worth of value, while Franklin Templeton's $FOBXX On-Chain U.S. Government Money Fund has a market cap of about $408 million.