Share this article
Coinbase Asset Management Plans Tokenized Money-Market Fund, a Hot Area After BlackRock's BUIDL Success: Sources
Tokenization is one of the hottest corners of the blockchain ecosystem.
Updated Jul 24, 2024, 4:21 p.m. Published Jul 24, 2024, 4:18 p.m.
- Coinbase Asset Management is creating a tokenized money-market fund, according to four people familiar with the plan.
- Tokenization of real-world assets is a hot corner of crypto. BlackRock's tokenized U.S. Treasuries fund quickly grabbed $500 million of assets this year.
The asset management arm of U.S.-listed cryptocurrency exchange Coinbase (COIN) is creating a tokenized money-market fund, jumping into one of the hottest crypto-powered corners of finance, according to four people familiar with the plan.
Tokenization, or representing ownership of real-world assets (RWAs) through blockchain-based products, has become one of the big trends in crypto of late. BlackRock, the world's biggest asset manager, introduced a fund called BUIDL that holds U.S. Treasuries. That fund quickly hit $500 million of assets following its introduction in March.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
For investors, tokenized funds provide numerous potential benefits, including the transparency provided by blockchain-linked assets and the possibility of greater liquidity. For issuers, there are efficiency gains.
For Coinbase Asset Management specifically, this would represent an expansion of the company's already publicly known attempt to break into the tokenization space. In December, the company received in-principle approval from an Abu Dhabi regulator to start tokenizing traditional assets on Base, the exchange's Ethereum scaling network.
Two of the people familiar with the matter said Coinbase Asset Management has been working with Bermuda-based Apex Group to help facilitate its tokenized fund. Apex services over $3 trillion of assets across custody, administration, depositary and managed funds.
In March 2023, Coinbase acquired One River Digital Asset Management, which led to the creation of Coinbase Asset Management.
Coinbase declined to comment. Apex Group did not comment by publication time.
Read more: How Tokenized Real World Assets Are Outperforming Crypto
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
USDC Issuer Circle Secures Abu Dhabi's ADGM License in Middle East Expansion
The license allows Circle to expand USDC payment and settlement tools across the United Arab Emirates.
What to know:
- Circle has obtained a Financial Services Permission license from Abu Dhabi Global Market, allowing it to operate as a Money Services Provider in the UAE.
- The stablecoin issuer has appointed Dr. Saeeda Jaffar, former manager at payments firm Visa.
- The approval comes as part of the UAE's emergence as a global hub for regulated digital assets, following similar licenses granted to Binance.
Top Stories
