VanEck Launches VBILL Tokenized US Treasury Fund: Details

VanEck has launched its first tokenized fund, the VanEck Treasury Fund (VBILL), in partnership with digital asset platform Securitize, according to a press release issued on Tuesday. The fund gives investors on-chain access to short-term U.S. Treasury bills and is available on four major blockchain networks: Ethereum, Solana, Avalanche, and BNB Chain.

It also provides shares that are stored on the blockchain itself, so users can see prices and ownership in real-time. It uses tokenization to make investing quicker, clearer, and more efficient. The fund supports 24/7 access and faster settlements than traditional systems. Its shares can be issued around the clock using USDC, a U.S. dollar-backed stablecoin.

It is designed for institutional and qualified investors, with a minimum investment of $100,000 for purchases on Avalanche, BNB Chain, and Solana, and $1 million on Ethereum. According to the press release , the assets are held by State Street Bank and Trust Company, a traditional financial custodian, and the net asset values are priced daily using data from blockchain oracle provider RedStone.

The fund offers atomic liquidity where investors are able to get their tokens exchanged for stablecoins in real-time through smart contracts. This feature is made possible by partnering with Agora, a VanEck-led stablecoin firm run by Nick van Eck, the founder’s grandson. VBILL redemption can occur in a single blockchain transaction through Agora’s AUSD token.

Kyle DaCruz, Director of Digital Assets Product at VanEck, said in a statement: “By bringing U.S. Treasuries on-chain, we are providing investors with a secure, transparent, and liquid tool for cash management, further integrating digital assets into mainstream financial markets.” 

He added, “Tokenized funds like VBILL are enhancing market liquidity and efficiency, underscoring our commitment to providing value to our investors.” Furthermore, Securitize CEO Carlos Domingo said the product combines “the best of Securitize’s fully integrated tokenization model with VanEck’s deep expertise of asset management.”

VBILL is organized under the laws of the British Virgin Islands. The fund uses technology provided by Wormhole to enable the seamless movement of assets between different blockchains. Securitize services the fund, including administration, transfer agency, and broker-dealer services.