UBS, an investment bank, has initiated its inaugural tokenized investment fund, a money market fund that operates on the Ethereum blockchain.
UBS, the world’s biggest private bank, today announced the launch of uMINT, also known as the “UBS USD Money Market Investment Fund Token,” an Ethereum blockchain-based tokenized investment fund.
In a press release, UBS stated that the fund offers investors access to “high-quality money market instruments based on a prudent, risk-managed framework,” although it did not specify the specific financial instruments that comprised the fund.
Thomas Kaegi, co-head of UBS’s Asian subsidiary, stated, “We have observed a rise in investor interest in tokenized financial assets across asset classes.”
According to the RWA.xyz dashboard, Ethereum is the most significant blockchain for the tokenization of real-world assets, with a total of over $3 billion in tokenized assets on the network. The dashboard indicates that the largest subset of tokenized assets is U.S. Treasury Debt, with a total value of approximately $3.9 billion, excluding private credit.
According to the dashboard, the value of tokenized assets on Ethereum has increased by roughly 4% over the past 30 days. BlackRock’s $BUIDL has the highest market capitalization among products that hold U.S. Treasuries, with a value exceeding $523 million. Franklin Templeton’s $FOBXX On-Chain U.S. Government Money Fund has a market capitalization of approximately $408 million.
Also Read: 21Shares files for a spot XRP ETF with the SEC in response to the Ripple litigation
Wallets