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Wall Street is going onchain — and VanEck is the latest to join the stampede.
Investment giant VanEck is launching its first tokenized real‑world asset (RWA) fund, named VBILL, in partnership with tokenization platform Securitize. The fund will give institutional investors exposure to US Treasury bills, but this time — onchain.
Multi-chain access with a high barrier to entry
VBILL will be available on Avalanche, BNB Chain, Ethereum, and Solana, VanEck said on May 13. The fund comes with a high minimum investment:
• $100,000 on Avalanche, BNB Chain, and Solana
• $1 million minimum on Ethereum
That’s a big bet on institutional demand for tokenized assets.
Competition heats up
VanEck will be competing with BlackRock’s BUIDL and Franklin Templeton’s BENJI, both of which already operate tokenized RWA funds.
US Treasurys are now the second‑largest RWA market after private credit, with $6.9 billion in tokenized value, according to RWA.xyz.
Securitize partnership — and SEC interest
VanEck’s partner Securitize has already tokenized over $3.9 billion in assets. In May 2024, it raised $47 million in a round led by — ironically — BlackRock.
Even the SEC is warming up to RWA tokenization. At a May 12 roundtable, SEC Chair Paul Atkins compared onchain securities to digital music:
“The migration to onchain securities has the potential to remodel aspects of the securities market… just like digital audio revolutionized music.”
Why it matters
Tokenized RWAs promise faster settlements, greater transparency, and access to illiquid assets — something traditional finance struggles with. And with multiple asset giants piling in, tokenization is no longer a theory — it’s a market shift in motion.
