- DigiFT, an exchange for real-world assets, is set to introduce an on-chain fund focused on major US stocks.
- This fund aims to give investors access to the top 10 AI-centric stocks, featuring companies like Nvidia, Apple, Microsoft, Tesla, and Alphabet.
- The platform asserts that investors can use stablecoins to subscribe to the fund, bypassing traditional banking procedures.
On Monday, DigiFT announced its intention to launch a new tokenized initiative known as the DigiFT Hash Global AI Index Fund. This on-chain offering will allow exposure to the top 10 AI-focused US stocks, including Nvidia (NVDA), Microsoft (MSFT), Tesla (TSLA), Alphabet (GOOGL), and Apple (AAPL).
Wall Street stocks set to enter the cryptocurrency market
Wall Street stocks are poised to make their entry into the tokenized fund space, following an announcement that DigiFT has teamed up with Web3 Venture firm Hash Global to introduce the DigiFT Hash Global AI Index Fund.
This fund will provide exposure to the pricing of the top 10 AI-driven stocks in the US, which includes prominent names such as Nvidia, Apple, Microsoft, Tesla, and Alphabet.
DigiFT indicates that it will not only tokenize shares of the fund but also the stocks of the underlying companies, while Hash Global will manage the new tokenized assets.
“Tokenizing the underlying assets — rather than just the fund shares — revolutionizes asset management, creating unparalleled liquidity, transparency, and accessibility for institutional investors,” remarked Henry Zhang, Founder & CEO of DigiFT.
The company also emphasizes that investors can subscribe to the tokenized fund using stablecoin payments, eliminating the need for conventional banking services.
Moreover, DigiFT announced that in addition to the AI-related US stocks, Hash Global will also be launching the DigiFT Hash Global Web3 Index Fund, which will give access to the top 10 cryptocurrency assets, including Bitcoin, Ethereum, and Solana.
Many asset managers have started their own tokenized funds. Franklin Templeton currently holds the title for the oldest fund with its Franklin Onchain US Government Money Fund (FOBXX).
Asset manager BlackRock, in collaboration with Securitize, introduced the BlackRock USD Institutional Digital Liquidity (BUIDL) Fund in 2024, which has a current market capitalization of $1.6 billion.
Additionally, Fidelity Investments submitted an application on Friday to register a tokenized version of its US Dollar money market with the Securities and Exchange Commission (SEC). The firm aims to launch a blockchain-based variant of its Fidelity Treasury Digital Fund (FYHXX), leveraging blockchains as transfer agents.