Securitize has expanded its Tokenized AAA CLO Fund (STAC) to Solana, with Ethena Labs planning a $250 million allocation to the fund as demand for tokenized real world assets continues to rise.
Key Takeaways
- Securitize has launched its STAC tokenized AAA CLO fund on Solana.
- Ethena Labs plans to allocate $250 million to the fund, one of the largest tokenized structured credit commitments on Solana.
- STAC invests in U.S. dollar denominated AAA rated collateralized loan obligations and was developed with BNY.
- Ethena aims to expand collateral backing for USDe and USDtb using institutional grade real world assets.
What Happened?
Securitize announced that its Securitize Tokenized AAA CLO Fund (STAC) is now available on the Solana blockchain, extending the fund’s reach to one of the industry’s most active blockchain ecosystems. Alongside the expansion, Ethena Labs revealed plans to allocate $250 million to the fund, highlighting growing institutional interest in tokenized credit products.
The move reflects increasing demand for regulated real world assets that can be used within onchain financial markets while generating yield and serving as productive collateral.
Today we’re expanding the Securitize Tokenized AAA CLO Fund (STAC) to @solana.
— Securitize (@Securitize) June 12, 2026
We’re also excited to share that @ethena plans to allocate $250 million to the fund, representing one of the largest commitments to tokenized structured credit on Solana to date. pic.twitter.com/XbVivFTyHq
Securitize Brings Tokenized Credit to Solana
The launch of STAC on Solana marks another step in Securitize’s broader effort to bring traditional financial products onto blockchain networks. STAC is a tokenized investment fund focused on AAA rated collateralized loan obligations, a segment of the credit market that has grown significantly in recent years.
The fund was developed in collaboration with BNY, which serves as custodian for the underlying assets and also acts as sub adviser through BNY Investments.
According to Securitize Co-Founder and CEO Carlos Domingo, tokenization delivers the greatest value when high quality financial assets are combined with blockchain technology’s speed, accessibility, and efficiency. He said the Solana expansion brings one of the world’s largest fixed income markets onto a blockchain ecosystem known for high activity and scalability.
Ethena Plans Major Allocation
Ethena Labs’ planned $250 million commitment represents one of the largest allocations to tokenized structured credit within the Solana ecosystem.
Guy Young, Founder of Ethena, said the company believes tokenized real world assets will become increasingly important as onchain finance matures. He added that institutional grade credit products could become foundational components of the digital asset economy.
Ethena said the allocation is designed to broaden the collateral backing of its products, including USDe and USDtb, beyond crypto native positions. The company is actively incorporating institutional quality assets into its reserve framework.
In addition to STAC, Ethena disclosed that it is working with institutions including Janus Henderson to potentially include the firm’s JAAA AAA CLO fund within USDe’s reserve portfolio.
Inside the STAC Fund
STAC follows a fundamentals driven investment strategy and does not employ leverage. The fund invests substantially all of its assets in U.S. dollar denominated AAA rated CLO tranches sourced from both primary and secondary markets.
The objective is to provide attractive risk adjusted returns through exposure to floating rate structured credit while maintaining a conservative risk profile.
According to the latest figures provided, STAC currently manages approximately $102 million in assets under management. The fund reports a seven day annualized yield of about 2.42% and charges a 0.3% management fee.
With global CLO issuance exceeding $1.3 trillion, Securitize believes tokenization can improve how institutional credit products are distributed, settled, and owned while reducing operational friction for investors.
Institutional Adoption Continues to Grow
The expansion also highlights Solana’s increasing role in institutional blockchain finance. Nick Ducoff, Head of Institutional Growth at the Solana Foundation, said the launch demonstrates the growing convergence between traditional financial assets and blockchain based markets.
Eligible investors can access STAC through Securitize’s regulated platform, where shares are issued as digital securities. The platform provides integrated KYC, AML, investor accreditation services, and onchain ownership records through its transfer agent infrastructure.
The launch adds to Securitize’s growing lineup of tokenized institutional products. The company reports more than $4 billion in assets under management and works with major asset managers including Apollo, BlackRock, BNY, Hamilton Lane, KKR, and VanEck.
CoinLaw’s Takeaway
In my experience, one of the biggest challenges facing tokenized finance has been connecting blockchain markets with high quality traditional assets that institutions already trust. I found this announcement notable because it is not just another token launch. It combines a recognized asset class, established financial institutions, and a major blockchain network in a single product. If large allocations such as Ethena’s continue to enter tokenized credit markets, real world assets could become one of the strongest growth areas in digital finance over the next few years.
