Bitfinex Securities launches tokenized fund offerings with Tether's Hadron platform

Overview

Bitfinex Securities has launched two tokenized fund offerings, the Crest Fund and the Liberty Bitcoin Accumulation Fund, using Tether's Hadron platform. The funds will be the first tokenized funds of funds issued under El Salvador's digital asset framework.

Fund Details

The Crest Fund is denominated in dollars and seeks to generate returns above US Treasury bill yields. The Liberty Bitcoin Accumulation Fund measures returns in Bitcoin and targets net annualized returns of 8% to 12%. Both funds use diversified portfolios of quantitative, market-neutral strategies rather than relying principally on the directional performance of digital-asset markets.

Tokenization and Listing

The offerings include a six-month period following listing during which performance fees will be cut by 50% and redemption fees waived. Those benefits will remain attached to tokens traded on the secondary market for the remainder of the period. Tokens will be minted against the underlying shares and burned upon redemption. Transfers will be subject to identity verification and anti-money laundering controls.

Regulatory Framework

The funds are structured as segregated portfolios of CMCC Global SPC in the Cayman Islands. The tokens represent economic interests in underlying participating shares held by BFXS (PTC) Limited as trustee.

Expansion of Bitfinex Securities

The launch of these tokenized fund offerings expands Bitfinex Securities' lineup beyond products such as tokenized debt, Bitcoin hashrate contracts, and US Treasury bills. The company now lists more than $500 million in assets and recently completed a $50 million capital raise for Alkemya Metacore, its largest to date.