TB-1118
T-Bills
Units of a fund that holds US Treasury bills under six months and overnight cash. Supply is checked against the custodian every morning at 09:00 CET.
80 of 96 lots placed · $412,600,000 in units
TERMS IN PRACTICE
Typical yield
4–5%
Min. ticket
$5,000
Lock-up
None
Distributions
Monthly
Settlement
T+0, DvP
Eligible investors
Professional (EU) · Accredited (US)
Vehicle. A tokenized unit class added to an existing regulated fund, next to its other classes. The manager, the administrator and the custodian stay the same.
Minting and redemption. Units are minted only against cash received at the custodian and burned on redemption, so supply follows the fund.
Income. The administrator strikes the NAV every business day; yield accrues daily and is paid monthly to every holder in one transaction.
Proof. Custody and supply are reconciled each morning and the signed attestation is published, exceptions included.
OTHER ASSET CLASSES
