{"id":79111,"date":"2026-10-05T23:18:16","date_gmt":"2026-10-05T23:18:16","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/plume-opens-onchain-door-to-fidelitys-28b-bond-giant\/"},"modified":"2026-10-05T23:18:16","modified_gmt":"2026-10-05T23:18:16","slug":"plume-opens-onchain-door-to-fidelitys-28b-bond-giant","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/plume-opens-onchain-door-to-fidelitys-28b-bond-giant\/","title":{"rendered":"Plume Opens Onchain Door to Fidelity\u2019s $28B Bond Giant"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Plume\u2019s nBND opened Oct. 5 with Fidelity\u2019s FBND as its primary reserve asset.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Fidelity\u2019s roughly $28B FBND remains offchain while nBND wraps exposure to its shares.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Defillama recorded about $48 in nFBND assets shortly after Plume announced the vault.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>A $28 Billion Bond Giant Gets a Blockchain Wrapper<\/h2>\n<p>A roughly $28 billion Fidelity bond ETF just acquired a blockchain doorway, but almost none of that mountain of money walked through it. <a href=\"https:\/\/www.plume.org\/blog\/plume-accelerates-tokenizations-role-in-global-finance-with-nbnd-vault\" target=\"_blank\" rel=\"noopener noreferrer\">Plume launched nBND on Oct. 5<\/a>, offering onchain exposure to Fidelity Total Bond ETF (FBND), an actively managed fund spanning government, corporate, mortgage, high-yield, and emerging-market debt.<\/p>\n<figure id=\"attachment_853581\" aria-describedby=\"caption-attachment-853581\" style=\"width:1306px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-853581\" class=\"wp-caption-text\">Image source: X<\/figcaption><\/figure>\n<p>The wrinkle is considerable. Fidelity hasn\u2019t tokenized FBND, and the fund\u2019s billions remain firmly offchain. Instead, Plume\u2019s Nest protocol wraps exposure to shares held inside a vault and issues investors a receipt token. Hours after the announcement, using the ticker nFBND, <a href=\"https:\/\/defillama.com\/rwa\/asset\/NFBND\" target=\"_blank\" rel=\"noopener noreferrer\">Defillama showed roughly $48 in onchain assets<\/a>.<\/p>\n<h2>Plume Wants to Move Beyond Tokenized Treasury Bills<\/h2>\n<p>That tiny starting balance doesn\u2019t make the structure trivial. Onchain fixed income has largely revolved around <a href=\"https:\/\/news.bitcoin.com\/tokenized-treasuries-cool-as-wall-street-giants-wage-a-35-billion-rwa-war\/\">short-duration U.S. Treasuries<\/a> and money-market-style products. Plume is betting institutional investors eventually want the rest of the bond counter, too.<\/p>\n<p>\u201cWhile the onchain fixed income market was originally concentrated in short-duration Treasuries and money market equivalents, these are the starting points, not the destination. Institutional allocators want duration, and active management, the same building blocks they use offchain,\u201d Plume CEO and co-founder Chris Yin said on Monday.<\/p>\n<p>FBND certainly brings duration. The traditional finance <a href=\"https:\/\/news.bitcoin.com\/market-updates\/bitcoin-etfs-lose-149m-fidelity-leads-broad-selling\/\">(TradFi) giant Fidelity<\/a> launched the ETF in October 2014, and its own June figures put net assets at $26.6 billion. Third-party estimates around early October placed the fund near $28 billion. Fidelity\u2019s quarterly review showed roughly six years of duration, a 4.74% 30-day SEC yield, and a portfolio weighted heavily toward investment-grade debt. In other words, Plume isn\u2019t wrapping some crypto-native contraption. It\u2019s plugging an old-fashioned bond portfolio into blockchain plumbing.<\/p>\n<h2>The $28 Billion Hasn\u2019t Gone Anywhere<\/h2>\n<p>Here\u2019s where the story gets its cold shower. nBND, also listed as nFBND, is a Nest vault receipt token. Investors depositing into the structure don\u2019t become registered FBND shareholders, and Fidelity hasn\u2019t hauled thousands of bond positions onto Plume Mainnet.<\/p>\n<p>The roughly $28 billion figure belongs to FBND itself, not nBND. Early descriptions calling the product a \u201ctokenized $28 billion ETF\u201d blur a rather important line. <a href=\"https:\/\/defillama.com\/rwa\/asset\/NFBND\" target=\"_blank\" rel=\"noopener noreferrer\">Defillama<\/a> classified nFBND as a wrapper and receipt token issued by Nest DAO LLC and recorded only about $48 in onchain assets shortly after launch.<\/p>\n<h2>The Experiment Starts at $48<\/h2>\n<p>The idea nevertheless goes further than another tokenized Treasury product. A receipt representing a diversified, actively managed bond ETF could theoretically become programmable collateral or move through <a href=\"https:\/\/news.bitcoin.com\/unlocking-the-future-your-fun-guide-to-decentralized-finance-and-web3\/\">decentralized finance (DeFi)<\/a> applications without requiring the underlying securities to leave traditional custody.<\/p>\n<figure id=\"attachment_853621\" aria-describedby=\"caption-attachment-853621\" style=\"width:2536px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-853621 size-full\" title=\"Plume Opens Onchain Door to Fidelity\u2019s $28B Bond Giant\" src=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/10\/screenshot-2026-10-05-at-4-39-17-pm.png\" alt=\"Defillama.com screenshot. \" width=\"2536\" height=\"812\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/10\/screenshot-2026-10-05-at-4-39-17-pm-300x96.png 300w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/10\/screenshot-2026-10-05-at-4-39-17-pm-1024x328.png 1024w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/10\/screenshot-2026-10-05-at-4-39-17-pm-768x246.png 768w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/10\/screenshot-2026-10-05-at-4-39-17-pm-1536x492.png 1536w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/10\/screenshot-2026-10-05-at-4-39-17-pm-2048x656.png 2048w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2026\/10\/screenshot-2026-10-05-at-4-39-17-pm.png 2536w\" sizes=\"auto, (max-width: 2536px) 100vw, 2536px\"\/><figcaption id=\"caption-attachment-853621\" class=\"wp-caption-text\">nFBND stats via defillama.com on Oct. 5, 2026.<\/figcaption><\/figure>\n<p><a href=\"https:\/\/x.com\/plumenetwork\/status\/2107003244719309273?s=20\" target=\"_blank\" rel=\"noopener noreferrer\">Cynthia Lo Bessette, Fidelity Investments<\/a>\u2019 head of digital asset management, said Fidelity is working with Plume \u201cto bring financial products on-chain,\u201d pointing to programmable portfolios, collateral utility, and access to capital. Plume already has institutional names behind it, including Apollo Global Management, Galaxy, Brevan Howard, and Haun Ventures, while Nest operates Treasury and private-credit vaults.<\/p>\n<p>Now comes the part that counts. A nearly $28 billion bond fund stands behind the product\u2019s headline, but the blockchain experiment started with enough money to cover dinner. If serious allocators arrive, then the figures could change quickly. Until then, $48 tells the more interesting story.<\/p>\n<p><em>Feature\/Hero image source: X screenshot of Plume co-founder Teddy Pornprinya.<\/em><\/p>\n<div class=\"not-prose my-3 lg:my-4\">\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden md:flex md:flex-row md:gap-3 lg:hidden\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/wall-street-never-sleeps-ice-okx-plot-24-7-tokenized-stock-trading\/\"><img alt=\"Wall Street Never Sleeps: ICE and OKX Plot 24\/7 Tokenized Stock Trading\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/div>\n<div class=\"overflow-hidden rounded-lg !bg-[#E8EDFA] p-[9px] hidden lg:flex lg:flex-row lg:gap-4\"><a aria-hidden=\"true\" tabindex=\"-1\" class=\"relative size-[150px] min-w-[150px] shrink-0 overflow-hidden rounded-[15px]\" href=\"https:\/\/news.bitcoin.com\/wall-street-never-sleeps-ice-okx-plot-24-7-tokenized-stock-trading\/\"><img alt=\"Wall Street Never Sleeps: ICE and OKX Plot 24\/7 Tokenized Stock Trading\" loading=\"lazy\" decoding=\"async\" data-nimg=\"fill\" class=\"object-cover\" style=\"position:absolute;height:100%;width:100%;left:0;top:0;right:0;bottom:0;color:transparent\" sizes=\"150px\" srcset=\"\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=32&amp;q=75 32w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=48&amp;q=75 48w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=64&amp;q=75 64w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=128&amp;q=75 128w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=256&amp;q=75 256w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=384&amp;q=75 384w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=640&amp;q=75 640w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=828&amp;q=75 828w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=1080&amp;q=75 1080w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=1200&amp;q=75 1200w, \/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=1920&amp;q=75 1920w\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=https%3A%2F%2Fstatic.news.bitcoin.com%2Fwp-content%2Fuploads%2F2026%2F10%2Fwall-street-never-sleeps-ice-and-okx-plot-247-tokenized-stock-trading-150x150.png&amp;w=1920&amp;q=75\"\/><\/p>\n<div class=\"absolute left-2 top-2\"><img alt=\"Bitcoin.com News\" loading=\"lazy\" width=\"28\" height=\"28\" decoding=\"async\" data-nimg=\"1\" class=\"size-7\" style=\"color:transparent\" srcset=\"\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=32&amp;q=75 1x, \/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75 2x\" src=\"https:\/\/news.bitcoin.com\/_next\/image\/?url=%2Fimages%2Fuploads%2Fbitcoin_news_newlogo.svg&amp;w=64&amp;q=75\"\/><\/div>\n<p><\/a><\/p>\n<div class=\"flex min-w-0 flex-1 flex-col justify-center gap-2\">\n<p class=\"m-0 line-clamp-2 text-base leading-[1.3] !text-[#67656E]\">This weekend, the crypto exchange OKX and the New York Stock Exchange (NYSE) owner Intercontinental Exchange (ICE) submitted a filing\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/finance\/plume-opens-onchain-door-fidelity-28b-bond-giant\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Plume\u2019s nBND opened Oct. 5 with Fidelity\u2019s FBND as its primary reserve asset. Fidelity\u2019s roughly $28B FBND remains offchain while nBND wraps exposure to its shares. Defillama recorded about $48 in nFBND assets shortly after Plume announced the vault. A $28 Billion Bond Giant Gets a [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":79112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79111"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=79111"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/79111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/79112"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=79111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=79111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=79111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}