Investment firm VanEck unveiled its first tokenized fund, backed by U.S. Treasury securities and available on the Ethereum, Solana, BNB Chain, and Avalanche blockchains.
VanEck announced the launch of the VanEck Treasury Fund (VBILL), the company’s first tokenized investment product, fully backed by U.S. Treasuries and aimed at institutional and qualified investors. The fund offers 24/7 liquidity, instant settlement, and access via USDC onramps.
VBILL was created in partnership with the real-world asset tokenization platform Securitize, which, as of May 14, 2025, manages over $3.9 billion in tokenized securities.
The fund is registered in the British Virgin Islands. Van Eck Absolute Return Advisers Corporation serves as the investment manager, Van Eck Securities Corporation is the marketing agent, and Securitize Markets, LLC handles distribution.
VBILL supports cross-chain interoperability via the Wormhole protocol, allowing seamless token transfers across networks. Daily NAV is calculated using the RedStone blockchain oracle network, and assets are custodied by State Street Bank and Trust Company.
VBILL securities are issued and recorded directly on-chain, providing transparency and significantly faster settlement compared to traditional fund structures. The minimum investment threshold is $100,000 for Avalanche, BNB Chain, and Solana platforms, and $1,000,000 for Ethereum. VBILL is also integrated with Agora and its AUSD stablecoin, enabling atomic liquidity within on-chain transactions.
Kyle DaCruz, Director of Digital Assets Product at VanEck, stated that the launch of VBILL marks another important step in integrating digital assets into traditional financial markets and enhancing liquidity management efficiency.
By the end of November 2024, the U.S. government tokenized debt securities market exceeded $2.34 billion, and as of May 14, 2025, it grew to nearly $6.9 billion.
