Breaking: Hamilton Lane Launches Private Credit Fund On Solana
Hamilton Lane, a global investment firm managing over $900 billion in assets, has taken a bold step into the world of cryptocurrencies. The company announced on Tuesday its decision to launch a tokenized version of its private credit fund on the Solana blockchain, marking a significant milestone in the adoption of digital assets by mainstream financial institutions.
Tokenization of SCOPE Fund on Solana
Hamilton Lane, one of the world’s largest alternative asset management firms with over $900 billion in assets under management, has made a significant move into the blockchain space. The firm announced on Tuesday the launch of a tokenized private credit fund on the Solana blockchain, marking a notable step in bridging traditional finance with decentralized technology.
The company is tokenizing its Senior Credit Opportunities Fund (SCOPE) on the blockchain, allowing investors to access the fund via the blockchain network. To facilitate this, Hamilton Lane has partnered with Libre, a Web3 protocol developed as a joint venture between Brevan Howard’s WebN Group and Nomura’s crypto firm Laser Digital. This initiative aims to reach “mass affluent, crypto native” traders, potentially broadening Hamilton Lane’s investor base and distribution channels.
SCOPE, which was launched in 2022, has approximately $556 million in assets under management and offers an annualized yield of 10% for USD investors. This move represents Hamilton Lane’s first venture on this blockchain its first attempt to tokenize collateralized lending. The firm had previously tokenized funds on other platforms, but this marks its debut on Solana’s high-speed network.
The tokenization of real-world assets (RWAs) is seen as a way to increase liquidity, transparency, and accessibility in traditional financial markets. Benefits include immediate ownership transfer and the ability to trade tokenized assets for other cryptocurrencies on secondary markets. This development aligns with a growing trend in the financial industry, as major players like BlackRock have also shown interest in tokenizing traditional assets.
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Potential Implications for ETF Approval
Nate Geraci, the president of The ETF Store, made a post on X (formerly Twitter) and hinted at a potential approval of spot Solana ETF. Geraci predicted that ETF issuers such as BlackRock, Fidelity, VanEck, and others will soon file for a combined spot Bitcoin (BTC), Ethereum (ETH), and SOL ETF within the next few months.
As of now, ETF traders are trading Bitcoin ETF and spot Ethereum ETF which received approval from the US Securities and Exchange Commission (SEC) most recently. Whereas, out of 11 ETF issuers only two VanEck and 21Shares have submitted 19b-4 filings with the SEC and more filings may come in the coming days.
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