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Best Digital Asset Product is a category within the BeInCrypto Institutional 100, an annual research-driven program recognising institutional digital asset excellence across 26 categories and six pillars.
This category sits under Pillar 3: Access to Digital Assets. The 15 products below are listed alphabetically by issuer and are not ranked. Each entry is anchored on the specific product, not the issuing firm. A shortlist will be named in May 2026, with the winner announced at Proof of Talk in Paris on June 2–3, 2026.
Key Facts
- Long list: 15 products across spot crypto ETFs, tokenized MMFs, tokenized treasuries, private credit and PE funds, tokenized equities, bonds, and regional product stacks
- Initial pool: More than 30 firms screened; 15 advanced to the long list
- Order: Listed alphabetically by issuer, not ranked
- Scoring: 50% quantitative data · 50% Expert Council
- Criteria assessed: AUM, net flows, product structure, regulatory licensure, multi-jurisdiction footprint, on-chain reach, fee structure, distribution channels, institutional holders, innovation signal
- Data sources: SEC EDGAR, ETF flow trackers, SFC, VARA, FCA, FINMA, BaFin, MAS, MiCA-CASP registers, audited reports, ratings agencies, PitchBook, Tracxn, and Crunchbase
| Product / Issuer | HQ & Listing | Reach | Product Structure | Representative Work |
| Apollo Global Management — ACRED | New York · NYSE: APO | $1.026T AUM Six chains live | Tokenized private credit fund Apollo Diversified Credit Securitize Fund | ACRED tokenizes Apollo Diversified Credit Fund via Securitize Live on Aptos, Avalanche, Ethereum, Ink, Polygon, and Solana |
| Backed Finance — bCSPX, bIB01, xStocks | Zug, Switzerland FINMA-aligned; Kraken-owned | $25B+ transaction volume since June 2025 100 tokenized stocks live | Tokenized equities and bond products xStocks tokenized equity suite | bCSPX tokenizes S&P 500 ETF exposure; bIB01 tokenizes short-term Treasuries xStocks Alliance includes Bybit, Gate.io, KuCoin, Talos, and 360X |
| BlackRock — IBIT, ETHA, BUIDL | New York · NYSE | $14T+ platform AUM IBIT $66.9B; BUIDL $2.5B–$2.85B | Spot crypto ETFs Tokenized money market fund | IBIT became the fastest ETF to cross $80B AUM BUIDL expanded across eight chains |
| Bitwise — BITB, BSOL | San Francisco · NYSE Arca | $11B client assets 40+ investment products | Spot Bitcoin ETF Solana ETP with staking exposure | BSOL launched on NYSE Arca in Oct 2025 Built direct SOL exposure with staking rewards target |
| Fidelity — FBTC, FETH | Boston, USA Fidelity Digital Assets OCC conditional charter | $15T+ platform AUA FBTC $13B–$15B AUM | Spot Bitcoin and Ethereum ETFs Vertically integrated custody model | FBTC and FETH combine Fidelity asset management with Fidelity Digital Assets custody Product stack differs from pure ETF issuers through internal custody infrastructure |
| Franklin Templeton — BENJI/FOBXX, EZBC, EZET | San Mateo, CA · NYSE: BEN | $1.74T AUM BENJI deployed across 8+ chains | Tokenized money market fund Spot Bitcoin and Ethereum ETFs | FOBXX/BENJI was the first US-registered fund using public blockchain record-keeping Franklin built multi-chain tokenized fund distribution |
| Hamilton Lane — SCOPE, Secondary Fund VI, Direct Equity | Conshohocken, PA · Nasdaq: HLNE | $1T AUM and supervision 780 professionals globally | Tokenized private credit and private markets funds Securitize-based access structure | SCOPE went multi-chain on Ethereum and Optimism Secondary Fund VI feeder reduced minimums from $5M to $20K |
| Hashnote / Circle — USYC | New York Bermuda-regulated; Cayman fund structure | $3B+ AUM Largest tokenized MMF globally by AUM | Tokenized institutional money market fund Backed by Treasury bills and reverse repos | USYC overtook BlackRock BUIDL in Jan 2026 Integrated with USDC for 24/7 collateral movement |
| Janus Henderson — JTRSY, JAAA, SPXA | London · NYSE: JHG | $457B AUM 25 offices worldwide | Tokenized treasury and index funds Rated tokenized fund products | JTRSY received S&P AA+f / S1+ rating SPXA launched on Base as S&P-licensed tokenized index fund |
| KKR — SKHC / HCSG II | New York · NYSE: KKR | $700B+ AUM Underlying HCSG II fund at $4B | Tokenized private equity fund Avalanche and Securitize structure | KKR tokenized Health Care Strategic Growth Fund II as SKHC Product remains available to qualified investors |
| Ondo Finance — OUSG, USDY, Ondo Global Markets | New York Private company; ONDO publicly traded | $1.81B+ platform TVL 265 tokenized securities and ETFs | Tokenized treasuries, yield products, tokenized securities Multi-chain market access | SEC investigation closed without charges in late 2025 Ondo Global Markets reached significant tokenized stocks share |
| OpenEden — TBILL | Singapore BVI feeder fund; BNY-managed | $260M+ AUM 10x year-on-year growth | Tokenized US Treasury bills Investment-grade rated product | First tokenized T-bill product with dual Moody’s and S&P investment-grade ratings BNY appointed investment manager and custodian |
| OSL — Tokenworks, HK Spot ETF Servicing, Taikang MMF | Hong Kong HKEX-listed parent; SFC-licensed VATP | Sub-custodian and exclusive VATP for Hong Kong spot crypto ETFs Supports BTC, ETH, and SOL ETF servicing | Tokenization platform and ETF servicing stack Hong Kong institutional product infrastructure | Distributor and custody partner for Hong Kong’s first tokenized MMF under unit-trust structure Tokenworks serves Tier-1 Hong Kong asset managers |
| Superstate — USTB, USCC, FundOS | New York SEC-registered investment adviser and transfer agent | USTB $967M AUM USCC $267M AUM | Tokenized US Treasuries and crypto carry fund White-label tokenization infrastructure | USTB transitioning to Invesco Advisers as investment manager FundOS powers Coinbase Asset Management’s CUSHY stablecoin yield fund |
| T. Rowe Price — TKNZ | Baltimore, USA · NYSE: TROW | $1.7T–$1.8T platform AUM ETF pending approval | Active crypto ETF filing 5–15 eligible crypto assets | TKNZ S-1 filed for active crypto ETF on NYSE Arca Anchorage Digital Bank named as crypto custodian |
About This List
The BeInCrypto Institutional 100 — Best Digital Asset Product (2026 Long List) identifies named institutional products giving investors access to digital assets. The category covers spot ETFs, ETPs, tokenized money market funds, tokenized treasuries, tokenized private credit and equity funds, tokenized securities, and regional product stacks.
Unlike asset manager categories, this list focuses on the product itself. A firm may appear because of one specific ETF, tokenized fund, treasury product, or integrated product suite that meets the long-list threshold.
Methodology
This category is evaluated under Track A of the BeInCrypto Institutional 100 methodology: 50% quantitative data and 50% Expert Council scoring.
Assessment spans AUM and cumulative net flows, product structure, regulatory licensure, jurisdictional footprint, on-chain reach for tokenized products, fee structure, distribution channels, institutional holder concentration, and innovation signal.
Data was verified using SEC EDGAR, ETF flow trackers, SFC, VARA, FCA, FINMA, BaFin, MAS, MiCA-CASP registers, audited reports, Moody’s tokenized product ratings, S&P Global Ratings tokenized fund ratings, KBRA/Kroll, PitchBook, Tracxn, and Crunchbase.
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