Global investment firm VanEck has entered the tokenized asset market with the launch of VBILL, a blockchain-based Treasury bill fund targeting institutional investors. Developed in partnership with digital asset platform Securitize, VBILL allows qualified participants to gain exposure to U.S. Treasury bills through tokenized instruments.
Announced on May 13, the fund supports four blockchain networks: Ethereum, Avalanche, BNB Chain, and Solana. Minimum investment thresholds begin at $100,000 for Avalanche, BNB, and Solana, while Ethereum-based participation requires at least $1 million.
VBILL places VanEck in direct competition with similar tokenized offerings from BlackRock (BUIDL) and Franklin Templeton (BENJI), as traditional finance firms move deeper into blockchain-based financial infrastructure.
VanEck Joins Growing Market for Tokenized Assets
VanEck’s launch of VBILL comes as the real-world asset (RWA) tokenization market heats up. The sector is now valued in the billions, with U.S. Treasuries representing a $6.9 billion share—second only to private credit.
Asset managers like BlackRock, Apollo, and Franklin Templeton have recently expanded their tokenized fund offerings, signaling a broader institutional shift toward blockchain-based finance. Apollo, for example, introduced a tokenized private credit fund earlier this year, leveraging decentralized infrastructure to increase transparency and reduce friction.
VanEck’s partner, Securitize, has tokenized more than $3.9 billion in assets to date. The firm also raised $47 million in a 2024 funding round led by BlackRock, adding further credibility to its role in powering this new financial model.
Supporters say tokenized products can improve settlement speed, bring liquidity to illiquid assets, and offer more granular transparency—traits increasingly valued by both institutional and retail investors.
SEC Chair Backs Tokenization as Market Disruption
SEC Chair Paul Atkins expressed strong support for tokenized securities during the agency’s May 12 roundtable, describing them as transformative for financial markets.
Drawing an analogy to the digitization of music, Atkins said blockchain-based securities could redefine how markets operate—enabling new ways to issue, trade, and hold assets.
“Just as the shift to digital audio revolutionized the music industry, the migration to onchain securities has the potential to remodel aspects of the securities market,” Atkins said.
He also acknowledged that many SEC regulations were crafted for pre-digital finance and may require updates to accommodate the realities of blockchain innovation. His remarks indicate a possible pivot toward more adaptive regulation as the tokenized RWA sector continues its rapid growth.
Quick Facts
- VanEck launched its VBILL Treasury fund on May 13.
- VBILL provides tokenized U.S. Treasury exposure via four blockchains.
- Ethereum investments require a $1M minimum; others start at $100K.
- SEC Chair Paul Atkins supports modernized rules for tokenized assets.
- Tokenized U.S. Treasuries now total $6.9 billion in market size.
