RWA FOUNDATION
Tokenized Funds
The fund keeps its rules. The shares get new rails.
A tokenized fund is a regular fund whose shares are issued or recorded as tokens. The manager still runs the portfolio, the administrator still calculates the net asset value and the transfer agent still keeps the register, with the share records kept onchain. Money market funds are a common example.
Tokenizing a fund leaves the strategy unchanged and changes how shares are issued, transferred and settled. Subscriptions and redemptions can settle faster, and shares can be held in a wallet or, where allowed, used as collateral. The fund's legal structure and its regulator stay the same.
A fund token is a fund share on new rails. What it is worth depends on the fund behind it.