Ethena Labs to allocate $250 million to Securitize's Tokenized AAA CLO Fund as it deploys on Solana

<p>Ethena Labs will allocate $250 million to the Securitize Tokenized AAA CLO Fund (STAC), as the trading instrument goes live on Solana, according to an announcement on Friday. </p>

<p>STAC is a tokenized fund issued by Securitize in collaboration with BNY, which serves as custodian for the fund’s underlying assets and sub-adviser through BNY Investments. </p>

<p>The fund invests in U.S. dollar-denominated AAA-rated collateralized loan obligations (CLOs) sourced from primary and secondary markets to gain exposure to the structured credit sector.

As of Friday, STAC has $102 million in assets under management from four investors, <a href="https://app.rwa.xyz/assets/STAC">according to</a> <a href="https://app.rwa.xyz/assets/STAC">RWA.xyz</a>.

The fund carries a net asset value of $1,021 and is returning a seven-day APY of 2.42%, with a 0.30% management fee, down significantly from its 30-day average APY of 11.23%.</p>