EtherFi has committed $25 million to Plume’s real-world asset (RWA) protocol, Nest, integrating tokenized RWA yield into its platform as it seeks returns beyond crypto-native sources. Deployment will begin with exposure to Plume’s nBASIS vault, which is tied to Superstate’s USCC crypto carry fund, and EtherFi plans a later phase that adds a dedicated RWA vault directly in its interface.
The initial allocation gives EtherFi users indirect exposure to a strategy that blends crypto basis trades, staking rewards and government securities—an approach typically available only to institutional or sophisticated investors. Plume says the vault architecture simplifies access by executing and reporting onchain while enforcing predefined risk controls and compliance features.
The integration will make RWA exposure available across EtherFi’s more than $6 billion in user deposits. EtherFi began as an Ethereum liquid staking yield platform and has since expanded into broader yield offerings. Plume builds infrastructure that packages institutional investment strategies into onchain vaults, letting users access strategies managed offchain through integrated crypto platforms. Plume has also moved toward TradFi integration, including registering as a transfer agent with the U.S. Securities and Exchange Commission in October.
Tokenized real-world assets have surged recently, driven largely by tokenized U.S. Treasury products. Data from RWA.xyz show the onchain value of tokenized RWAs rose to over $27 billion from about $5.7 billion at the start of 2025, with tokenized Treasuries accounting for more than $11 billion. Large institutional entrants account for a meaningful share of that market: Circle’s USYC holds roughly $2.3 billion, BlackRock’s BUIDL fund about $2 billion, and Franklin Templeton’s onchain money fund over $1 billion.
Plume reports 262,325 RWA holders controlling more than $348 million in tokenized assets, with distributed asset value up 69% over the prior 30 days per RWA.xyz data. Plume’s Nest vault lineup is already live, including a basis-focused vault holding more than $26 million in assets. In November, Plume co-founder and CEO Chris Yin said the tokenized RWA market could expand up to fivefold in the coming year, noting that while much RWA value is concentrated in Treasury bills today, maturing markets and shifting rates are pushing users toward higher-yield opportunities.
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