VanEck has announced the launch of its first tokenized fund today, the VanEck® Treasury Fund, Ltd. (VBILL). The program offers US Treasury-guaranteed assets through four major blockchain networks, providing qualified investors with safety and immediacy.
This fully collateralized alternative to traditional money market funds started online trading on May 13, 2025, and offers the added benefits of real-time settlement and 24/7 liquidity.
It also aims to maximize current revenue while maintaining capital and liquidity values. Additionally, it invests exclusively in U.S. Treasury obligations and repurchase agreements backed by these obligations, maintaining a steady net asset value (NAV) per share of $1.00.
By investing in assets with 397 days or fewer maturities, the fund can maintain its dollar-weighted average portfolio maturity at 60 days or less. The fund also plans to keep some cash available to facilitate redemption transactions.
The VanEck fund is initially available on four primary blockchain ecosystems: Avalanche, BNB Chain, Ethereum, and Solana. Wormhole, the leading interoperability technology that connects the digital asset economy and traditional banking, has strategically collaborated to achieve this.
Through Wormhole’s technology, VBILL tokens can be transferred securely and instantly between supported chains, ensuring maximum asset mobility, improved liquidity, and efficient access to blockchain-based capital markets.
VBILL Is Custom-Built for Institutions
Securitize’s comprehensive tokenization infrastructure provides integrated services including tokenization, fund administration, transfer agency, and broker-dealer capabilities. It brings considerable expertise to the partnership, considering it is responsible for over $3.9 billion in tokenized securities as of May 12, 2025.
The design of VanEck’s VBILL facilitates a broader range of use cases, including atomic liquidity via Agora’s USD stablecoin (AUSD). It also enables 24/7 issuance through USDC onramps, positioning it as a fundamental building block for participants in the on-chain financial market.
With cross-chain interoperability becoming increasingly important in the fragmented blockchain landscape, VBILL’s multi-chain approach through Wormhole’s technology could serve as a model for future tokenized financial products that seek to maximize accessibility across the digital asset ecosystem.
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