Vaneck推出了Vbill，這是一個雪崩，BNB連鎖店，以太坊和Solana的標記短期美國財政基金

傳統的金融重量級Vaneck隨著VBILL的推出，這是一項標記基金，提供了美國短期美國國債的投資，進入了現實世界中的資產（RWA）競技場。

Traditional finance giant VanEck has entered the real-world asset (RWA) arena with the launch of VBILL, a tokenized fund offering exposure to short-term U.S. Treasuries across Avalanche, BNB Chain, Ethereum, and Solana.

傳統金融巨頭Vaneck通過推出Vbill的推出，該競技場已進入現實世界中的資產（RWA）競技場，Vbill是一筆標記的基金，可在雪崩，BNB連鎖店，以太坊和Solana中提供短期美國國債。

The fund, which is open to qualified investors only, had a stated minimum investment of $100,000 for most supported chains and $1 million for Ethereum.

該基金僅向合格的投資者開放，該基金對大多數支持連鎖店的最低投資為100,000美元，以太坊的投資為100萬美元。

Announced on Wednesday, VBILL is structured as a BVI-domiciled fund managed by Van Eck Absolute Return Advisers, with Securitize acting as the placement agent. The fund will hold U.S. Treasury bills, which are custodied by State Street Bank & Trust, and on-chain NAV data will be supplied daily via RedStone oracles.

VBILL於週三宣布，由Van Eck Absolute Report Advisers管理的BVI分解基金結構，其證券化為安置代理。該基金將持有美國國庫賬單，該法案由州街銀行和信託公司拘留，鏈上NAV數據將每天通過Redstone Oracles提供。

Subscriptions and redemptions for the fund will occur in USDC, while token transfers across blockchains will be facilitated by the Wormhole protocol. Additionally, VBILL features atomic redemption into Agora’s AUSD stablecoin, permitting seamless liquidity pathways between yield and stablecoin markets.

該基金的訂閱和贖回將發生在USDC中，而蠕蟲孔協議將促進跨區塊鏈的代幣轉移。此外，VBILL將原子贖回為Agora的Ausd Stablecoin提供，從而可以在產量和Stablecoin市場之間無縫的流動性途徑。

“By bringing U.S. Treasuries on-chain, we are providing investors with a secure, transparent, and liquid tool for cash management,” said Kyle DaCruz, Director of Digital Assets Product at VanEck. “This innovation is a natural progression of VanEck’s commitment to delivering value-driven investment solutions.”

Vaneck數字資產產品總監Kyle Dacruz說：“通過將我們的國債帶給我們為投資者提供現金管理的安全，透明和流動性工具。” “這項創新是Vaneck致力於提供價值驅動投資解決方案的承諾的自然發展。”

From BlackRock’s BUIDL fund, launched in March 2024, to Blockfolio’s recent foray into tokenized bonds, asset managers have been slowly venturing into the realm of blockchain-native yield products. However, most offerings have been limited to single chains, largely focused on Ethereum due to its smart contract capabilities and existing institutional interest.

從2024年3月啟動的BlackRock的Buidl基金到Blockfolio最近涉足令牌債券的企業，資產經理一直在逐漸冒險進入區塊鏈本地產量產品的領域。但是，大多數產品都僅限於單連鎖店，由於其智能合同能力和現有的機構利益，主要集中在以太坊上。

Despite the explosively growing sector, with T-bill tokens now exceeding $6.8 billion in total value locked—more than a 5x increase year-over-year—the sector has faced challenges in attracting broader investor participation beyond a few large funds.

儘管爆炸性的行業增長，但T-Bill代幣目前的總價值鎖定超過68億美元（超過同比增長5倍），該行業在吸引更廣泛的投資者參與的挑戰方面面臨著挑戰。

A multi-chain launch

多鏈發射

With VBILL, VanEck is deploying across four chains from day one, a signal of growing confidence in cross-chain infrastructure and investor demand for such options. The move also appears to be a strategic counter to BUIDL, which began with a single-chain Ethereum fund before expanding to Avax in April 2024.

借助VBILL，Vaneck從第一天開始就在四個鏈條上部署，這表明對跨鏈基礎設施和投資者對此類選擇的需求的信心越來越大。此舉似乎也是Buidl的戰略反擊，Buidl始於單鏈以太坊基金，然後於2024年4月擴展到Avax。

Announced in March 2024, BUIDL is a fully collateralised fund offering exposure to U.S. T-bills through a tokenized format. The fund, which has a $50 million starting size and is open to accredited investors only, will be managed by BlackRock and its subsidiary, ALTI.

Buidl於2024年3月宣布，是一項完全抵押的基金，通過令牌化格式向美國T-Bills提供接觸。該基金的起價為5000萬美元，僅向認可的投資者開放，將由BlackRock及其子公司Alti管理。

Meanwhile, VanEck’s product, which will be available in the coming weeks, appears to offer more flexibility and composability for crypto-native treasury desks and stablecoin providers seeking high-grade, liquid U.S. dollar assets.

同時，Vaneck的產品將在接下來的幾週內提供，似乎為加密本地國庫台和尋求高級液體美元資產的Stablecoin提供商提供了更大的靈活性和合成性。

Key highlights of VBILL:

VBILL的關鍵亮點：

Minimum investment: $100,000 (most chains), $1 million (Ethereum)

最低投資：100,000美元（大多數連鎖店），100萬美元（以太坊）

Supported chains: Avalanche, BNB Chain, Ethereum, Solana

支持的連鎖店：雪崩，BNB鏈，以太坊，索拉納

Investment vehicle: BVI-domiciled fund, limited to accredited investors via Reg D and Rule 506(c)

投資工具：BVI-Domiciled基金，通過Reg D和規則506（c）限於認可的投資者

U.S. T-bills custodied by State Street Bank & Trust, on-chain NAV supplied daily via RedStone

美國T-bills由州街銀行和信託公司監護，每天通過Redstone提供的鍊鍊NAV

Subscription and redemption in USDC, token transfers via Wormhole

USDC的訂閱和贖回，象徵性轉移通過蟲洞

Atomic redemption into Agora’s AUSD stablecoin

原子兌換為Ag​​ora的Ausd Stablecoin

Key personnel: Kyle DaCruz (Digital Assets Product, VanEck), Steven Nerlich (Managing Director, Securitize)

關鍵人員：Kyle Dacruz（Vaneck數字資產產品），Steven Nerlich（證券化董事總經理）

“This collaboration merges the best of Securitize’s tokenization model with VanEck’s expertise in institutional fund management, and we are excited to see the possibilities that arise from combining our strengths,” said Carlos Domingo, CEO of Securitize. “This unique offering, in the form of a BVI-domiciled fund, will open new market opportunities for investors seeking efficient and transparent access to U.S. Treasuries.”

“這項合作將證券化的代幣化模型與Vaneck在機構管理方面的專業知識相結合，我們很高興看到結合優勢的可能性，” Securitize的首席執行官Carlos Domingo說。 “這種獨特的產品以BVI涉及基金的形式，將為尋求高效且透明的美國國債的投資者打開新的市場機會。”