Spiko UK T-Bills Money Market Fund

UKTBL Price

About Spiko UK T-Bills Money Market Fund (UKTBL)

Spiko UK T-Bills Money Market Fund (UKTBL) is a tokenized money market fund that provides on-chain access to yields tracking the UK Treasury Bill rate.

• Authorized as a UCITS fund by the French Financial Markets Authority (AMF) and supervised under European Union law.
• Offers daily accrued yields and overnight liquidity (T+1), allowing investors to subscribe or redeem with as little as 1 GBP.
• Utilizes a Total Return Swap mechanism with Tier 1 banking counterparties to generate stable returns while maintaining a collateralized portfolio of financial assets.

What Is Spiko UK T-Bills Money Market Fund

UKTBL brings institutional-grade cash management to the blockchain by tokenizing a regulated money market fund. It allows users to hold a digital representation of a GBP-denominated fund that invests in UK Treasury Bills or equivalent yield-generating instruments. The token functions as a share in the fund, with value accruing daily through an "accumulating" mechanism where yield is reflected in the token's Net Asset Value (NAV). As more capital enters the fund, Spiko expands its swap agreements and collateral base, maintaining institutional safety standards through partnerships with Europe's largest asset managers and custodians.

What Makes Spiko UK T-Bills Money Market Fund Unique

• Regulated UCITS structure: Unlike many on-chain yield products, UKTBL is a fully regulated investment vehicle authorized by the French AMF.
• Double Protection: Funds are backed by the creditworthiness of Tier 1 banks and further secured by a wholly-owned collateral portfolio of liquid financial assets.
• High-Frequency NAV Feeds: Uses Chainlink oracles to provide transparent, on-chain Net Asset Value (NAV) updates.
• Cross-Chain Availability: The shareholder register is distributed across multiple networks, including Ethereum, Polygon, Arbitrum, and Base.

What Can You Use Spiko UK T-Bills Money Market Fund for?

Spiko UK T-Bills Money Market Fund is pegged to the British Pound.

1. Value retention: UKTBL allows users to maintain exposure to the British Pound in a digital format, potentially reducing risk during periods of high cryptocurrency market volatility.
2. Yield generation: The fund generates daily accrued interest tracking the UK risk-free rate (SONIA) through institutional swap agreements. The source does not specify native on-chain lending yield beyond the fund's own performance.
3. Cross-border settlement / value transfer: It enables the frictionless transfer of GBP-denominated value across supported blockchain networks, facilitating international settlement and efficient capital movement.
4. Collateralization: UKTBL tokens can be used as backing for borrowing and lending protocols or as margin for derivatives, though the source does not specify particular supported platforms.

How Does Spiko UK T-Bills Money Market Fund Work?

The fund employs a Total Return Swap (TRS) strategy to achieve its objectives. Spiko Pound holds a basket of financial instruments, such as equities, on its balance sheet. This arrangement helps Tier 1 banks reduce their regulatory capital requirements by moving these assets off-balance-sheet. In exchange, the banking counterparty, such as BNP Paribas, pays the fund a guaranteed daily yield based on the Sterling Overnight Index Average (SONIA) rate plus a spread.

As an application utility token, UKTBL does not serve as a network gas asset; instead, it charges an annual management fee of 0.30% to cover administrative costs and tokenization services.

Team Info and Investors

Spiko acts as the issuer of the fund, with Amundi Asset Management serving as the delegated asset manager. The fund's operations are supported by a network of institutional partners: CACEIS, a subsidiary of Crédit Agricole, acts as the depositary bank and custodian, while PwC provides auditing services. The fund is authorized and supervised by the French Financial Markets Authority (AMF) under European UCITS regulations.

Where can you buy Spiko UK T-Bills Money Market Fund?

UKTBL tokens have stopped trading - ago on all exchanges listed on CoinGecko. Information will be updated if market activity resumes.

What is the daily trading volume of Spiko UK T-Bills Money Market Fund (UKTBL)?

The 24 hour trading volume of Spiko UK T-Bills Money Market Fund (UKTBL) is $0 which signals a drop in market activity. If you own UKTBL tokens, liquidity of the token is likely to be low. Proceed with caution. You may explore CoinGecko’s list of most traded cryptos for coins with higher liquidity.

What is the highest and lowest price for Spiko UK T-Bills Money Market Fund (UKTBL)?

Spiko UK T-Bills Money Market Fund (UKTBL) reached an all-time high of $1.39 and an all-time low of $1.34. It’s now trading -1.40% below that peak and 2.00% above its lowest price.

What is the market cap of Spiko UK T-Bills Money Market Fund (UKTBL)?

Market capitalization of Spiko UK T-Bills Money Market Fund (UKTBL) is $18,591,442 and is ranked #862 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of UKTBL tokens (14 Million tokens are tradable on the market today).

What is the fully diluted valuation of Spiko UK T-Bills Money Market Fund (UKTBL)?

The fully diluted valuation (FDV) of Spiko UK T-Bills Money Market Fund (UKTBL) is $18,591,442. This is a statistical representation of the maximum market cap, assuming total number of 14 Million ETH tokens are in circulation today.

How does the price performance of Spiko UK T-Bills Money Market Fund compare against its peers?

With a price decline of -0.10% in the last 7 days, Spiko UK T-Bills Money Market Fund (UKTBL) is underperforming the global cryptocurrency market which is up 1.40%, while underperforming when compared to similar Polygon Ecosystem cryptocurrencies which are up 0.00%.