Spiko US T-Bills Money Market Fund (USTBL)

The fund operates under the European regulatory framework and is approved by France’s Autorité des marchés financiers, giving it a more traditional legal and compliance foundation than many crypto-native yield products. Its underlying assets are US Treasury bills, instruments widely used by money market funds because they are backed by the US government and are among the most liquid securities in global finance.

USTBL’s distinctive feature is the combination of regulated fund access and blockchain-based distribution. It offers investors a way to gain exposure to Treasury bill returns through a digital asset linked to a licensed fund, while retaining the risk profile of a short-duration money market strategy rather than that of an unbacked token. The product is open to both professional and non-professional investors, subject to applicable onboarding and eligibility requirements.

Its value is influenced by the income earned on the fund’s Treasury bill holdings, prevailing short-term interest rates, fund expenses, liquidity arrangements, and the operational framework used to issue and transfer the digital representation.