Plume Launches nBND Vault Backed by Fidelity $28B Bond ETF

Plume has introduced nBND, a tokenized vault that is primarily backed by shares of Fidelity’s Total Bond ETF (FBND). The product, announced on Oct. 5, aims to bring actively managed bond exposure onto its on‑chain asset platform, moving fixed‑income tokenization beyond the short‑duration Treasury and money‑market products that have dominated the space.

Fidelity ETF as Core Reserve

The vault’s reserve consists of FBND shares, an actively managed ETF that invests across investment‑grade, high‑yield and emerging‑market debt. Fidelity reported assets of $26.6 billion as of June 30 2026, with third‑party data later estimating roughly $28.2 billion. Plume clarified that the $28 billion figure refers to the ETF’s total assets, not capital deposited into nBND.

Expanding On‑Chain Fixed Income

Plume CEO Chris Yin said institutional investors seek “duration and active management,” which the nBND vault provides. The company cited growth in tokenized U.S. Treasuries—from $12 billion in April to $15 billion in June—as a catalyst for broader fixed‑income tokenization.

Regulatory Infrastructure

Plume’s Kimber Transfer Agency holds SEC transfer‑agent registration, and the firm received a digital‑asset business license from the Bermuda Monetary Authority in May 2026. These approvals support regulated record‑keeping for tokenized securities.

Key Facts

• nBND is backed by Fidelity Total Bond ETF (FBND) shares.
• FBND held about $28 billion in assets at the time of reporting.
• Plume did not disclose the amount of FBND shares deposited into nBND at launch.
• The vault introduces duration and active management to on‑chain bond products.
• Plume holds SEC transfer‑agent registration and a Bermuda digital‑asset license.