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Abu Dhabi-based tech firm Realize and Neovision Wealth Management launched a T-Bills Fund that tokenizes US Treasury bill ETFs, Reuters quotes Realize co-founder Dominik Schiener as saying. The fund will acquire units from BlackRock’s iShares and State Street’s SPDR ETFs, converting them into digital tokens that can be traded on a blockchain. The company aims to grow the T-Bills Fund’s assets under management to USD 200 mn, with a target of reaching USD 100 mn by October 2025, Schiener told AGBI.
Roles: Realize will handle tokenizing the T-Bills Fund units, with Neovision overseeing fund management.
More about the fund: Licensed in the Abu Dhabi Global Market (ADGM), the T-Bills Fund will issue RBill tokens to represent shares of the fund’s ETF holdings digitally. Open to qualified global investors, the fund requires a minimum investment of USD 50k, with tokens available on Iota and Ethereum blockchains, according to a company statement. It expects 20-30% to come from Gulf investors, with the rest coming from Europe and Southeast Asia, which it says will be its biggest demographic.
The company also plans to expand further in the Middle East “because it has a high penetration of crypto users and wealthy individuals,” Schiener said.
