Securitize vaults

Securitize is a tokenisation platform that provides tokenisation, distribution and transfer agency services for securities issued by fund managers such as BlackRock, Apollo, Hamilton Lane and VanEck. Its subsidiaries include an SEC-registered transfer agent that maintains ownership records for tokenised securities, a FINRA-member broker-dealer that runs an alternative trading system, and a fund administrator. Securitize Corp. has traded on the NYSE as SECZ since July 2026, according to its registration statement.

Treasury funds. The BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and the VanEck Treasury Fund (VBILL) hold cash, short-dated US Treasuries and repurchase agreements and target $1 per share. BUIDL pays its income as new tokens each month, so its token price does not show its yield.

Credit and other funds. These have a NAV that moves with their portfolio: the Apollo Diversified Credit Securitize Fund (ACRED) feeds into Apollo's diversified global credit strategy; the Securitize Tokenized AAA CLO Fund (STAC) holds AAA-rated CLO tranches, with BNY as custodian and BNY Investments as sub-adviser; HLSCOPE feeds into Hamilton Lane's Senior Credit Opportunities Fund, which makes senior secured loans; BCAP is Blockchain Capital's venture fund; and Mantle Index Four (MI4), tokenised on the Mantle network, holds BTC, ETH, SOL and dollar stablecoins.

Eligibility and dealing. The tokens are permissioned securities: investors must pass KYC/AML checks and each fund's qualification rules, typically qualified purchaser or accredited investor status, and tokens move only between approved wallets. Subscriptions and redemptions go through Securitize at NAV on each fund's schedule, with daily redemptions for ACRED. Minimums vary: BUIDL launched with $5 million, VBILL starts at $100,000 ($1 million on Ethereum) and HLSCOPE at $10,000.

Fees and risks. Fees are set in each fund's offering documents. Besides the credit, interest-rate and valuation risk of each strategy, Securitize's filings flag thin secondary markets, token prices diverging from the underlying assets, blockchain and smart contract failures, and regulatory change.