The Breakdown Lightspeed: Launching Crypto's Largest Tokenized Fund On Solana | Michael Sonnenshein
Apr 16, 2025
Michael Sonnenshein, COO of Securitize and former CEO of Grayscale, dives into the future of tokenization and the launch of BUIDL, the largest tokenized fund in crypto. He discusses the surge in institutional interest to build on Solana, addressing misconceptions about the platform. Sonnenshein also explores how tokenization democratizes investment, merging traditional finance with crypto, and examines the implications of recent acquisitions in the crypto market, such as Ripple's $1.25 billion buyout.
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From Bitcoin ETFs to Tokenization
- Michael Sonnenshein spent a decade at Grayscale pioneering Bitcoin ETFs, culminating in a landmark SEC lawsuit.
- Transitioning to Securitize, he now focuses on tokenizing traditional funds onto blockchains like Solana, reversing the process he worked on before.
Rapid Growth of Tokenized Treasuries
- Tokenized treasury funds are in early growth but rapidly expanding, with BIDDLE reaching $2 billion AUM in just over a year.
- Adding support for Solana opened fresh demand thanks to its high performance and low fees, ideal for Real World Assets (RWAs).
Blockchain Agnostic and DeFi Bridging
- Securitize integrates with multiple blockchains to maximize distribution, but focuses on tokenizations that add real value to investors.
- Collaboration with Athena and Converge chain aims to bridge Real World Assets with DeFi, unlocking new utilities.