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Wellington partners Ondo Finance for tokenized US Treasury fund

Wellington Management, an asset manager with over $1 trillion in assets, has announced a partnership with Ondo Finance in a collaboration that aims to power intraday redemptions for a newly unveiled tokenized US Treasury fund.

Ondo is a decentralized finance protocol that’s seeing rapid growth in the tokenized assets market.

Ondo and Wellington team up on new tokenized fund

The fund in question is the Delta Wellington Ultra Short Treasury On-Chain Fund, or ULTRA, which Standard Chartered-backed tokenization platform Libeara launched in collaboration with fund management infrastructure firm FundBridge Capital.

Delta Wellington Ultra Short Treasury On-Chain Fund is live on the Ethereum blockchain. However, the issuers have plans to expand it to Arbitrum, Avalanche and Solana. The partnership between Wellington Management and Ondo Finance will see the latter offer the technology that will enable intraday redemptions.

With this, investors can enter and exit positions any time. Ondo and Wellington see this as a crucial step towards enhancing the fund’s utility across web3.

“By enabling 24/7 liquidity, Ondo Finance is ensuring that tokenized assets can be most effectively used as collateral and for cross-border settlement, including in the digital assets ecosystem,” Nathan Allman, chief executive officer of Ondo Finance, said in a statement.

Ondo has Ondo U.S Dollar Yield (USDY) and Ondo Short Term US Government Bond Fund (OUSG), two of the top tokenized US Treasuries funds.

According to rwa.xyz, USDY and OUSG have market caps of $444 million and $205 million respectively. However, that’s notable in a market currently at just over $2.43 billion.

BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) is the largest at over $533 million.

The post Wellington partners Ondo Finance for tokenized US Treasury fund appeared first on CoinJournal.

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BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days

  • BlackRock takes the lead reaching $30 billion in 293 days. JEPI took 1,272 days and Gold managed it in 1,790 days
  • Spot Bitcoin ETFs could reach one million Bitcoin, surpassing Satoshi Nakamoto by mid-December

BlackRock’s spot Bitcoin exchange-traded fund (ETF) has hit $30 billion in assets setting a new record of 293 days, showcasing rising interest in crypto investments.

The milestone from BlackRock comes 10 months after the company launched its spot Bitcoin ETF in January. Then, it was reported that BlackRock had traded $7.5 million shares within the first 10 minutes of launching.

Now, BlackRock holds more than 417,000 Bitcoin, valued at $30.4 billion, according to iShares data.

Taking to X, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

Balchunas also noted that Bitcoin ETFs could reach one million Bitcoin soon. At the time of publishing, the number sits around 983,000. If such a milestone is reached Balchunas believes that the combined spot Bitcoin ETFs could surpass Satoshi Nakamoto’s wallet, which holds 1.1 Bitcoin, by mid-December.

“That said, anything can happen, eg a violent selloff and all this is delayed albeit still inevitable,” he added. “On flip, if prices keep going up, Trump wins, we could see FOMO could kick in and it all happens faster. Stay tuned.”

Decentralized prediction market platform, Polymarket, and, more recently, Robinhood, an investment app, have launched data predicting who will win the US Presidential election on November 5.

At the time of publishing, Polymarket shows former US president Donald Trump in the lead at 67% with Vice President Kamala Harris behind at 33.1%.

The post BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days appeared first on CoinJournal.