Flow Capital Partners plans to tokenize its $150 million private credit fund with Singapore-based DigiFT and aims to record the fund on a blockchain by the end of April, the firm’s chief investment officer Jacky Tian said. The manager is also targeting an additional $30 million in tokenized shares to be raised by the end of 2026.
The planned $30 million tokenized issuance is intended to help expand the vehicle to about $250 million, with a target net return of 12 percent. Flow Capital launched the fund in mid-2025 with roughly $125 million in seed capital. Cointelegraph contacted Flow Capital and DigiFT for comment.
The move is part of a wider trend among traditional finance firms that are using tokenization to broaden distribution of credit and cash-management products. Large asset managers have pursued similar tokenized offerings, including BlackRock’s BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on Ethereum in March 2024 and JPMorgan’s My OnChain Net Yield Fund (MONY) on Ethereum in December 2025.
Industry participants caution that putting an asset on-chain does not automatically create secondary-market liquidity. Oya Celiktemur, sales director for Europe at Ondo Finance, warned at Paris Blockchain Week 2026 that tokenizing an illiquid asset does not magically make it liquid. Francesco Ranieri Fabracci, head of tokenization expansion at Tether, echoed that tokenization alone is not a guarantee of liquidity, while noting that some products such as bonds, money-market funds and stablecoins may exhibit more consistent blockchain liquidity.
Market data from RWA.xyz shows the total value of tokenized assets climbed 9.6 percent over the past 30 days to about $29.9 billion. Tokenized U.S. Treasury debt represents the largest segment at roughly $13.7 billion, followed by commodities at $5.4 billion and asset-backed credit at $3.2 billion.
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