Markets · News
The tokenization firm, which names BlackRock's BUIDL and VanEck's VBILL among its products, says it has $1.10B in tokenized assets on Solana, more than on any other network it uses.
Securitize, a company that issues fund shares as blockchain tokens, said on Oct. 21 that Solana is now the biggest network for the assets it has tokenized. The stakes: by its own count, a firm that tokenizes funds from big asset managers now does more of that business on Solana than on any other network, which would include Ethereum.
In a post on its official X account at 10:07 a.m. ET, the company wrote: "With $1.10B in assets tokenized by Securitize, from BlackRock's BUIDL to VanEck's VBILL, Solana is now our largest network." [1]
Tokenizing a fund means issuing its shares as digital tokens on a blockchain, a shared public ledger, so they can be held and moved like other crypto assets. BUIDL and VBILL, the two products Securitize named, are funds it lists among the assets it has tokenized. Securitize did not break the $1.10B down by fund or say how much it holds on other networks.
In Le Coin's view, the post is a signal that tokenized versions of traditional funds no longer default to one blockchain. Ethereum was long the starting point for this kind of product. A firm with Securitize's product list putting Solana first suggests issuers and their investors are willing to spread across networks.
In Le Coin's view, the post should not be read as Wall Street choosing Solana over Ethereum. It is one company's count of its own business, stated by the company and not checked against blockchain records. It gives no figure for Ethereum or other networks, no time frame for the shift and no reason for it. A single firm's mix can also change quickly as funds move or new ones launch.
In Le Coin's view, the tell is whether Securitize or the fund managers publish a per-network breakdown. Until then, "largest network" is a ranking without the numbers behind it.
Holding the Corner.
Not financial advice.
Not financial advice.