Grove plans to invest $100 million in anchor funding for the newly launched Securitize tokenized AAA-rated CLO fund

ChainCatcher news, the decentralized finance protocol Grove disclosed on its official blog that Securitize today announced the launch of the Securitize Tokenized AAA CLO Fund (STAC), which focuses on the tokenized investment of AAA-rated CLO tranches.

The fund is custodied by BNY Mellon and co-advised by its investment firm Insight. Pending governance approval, Grove will provide a $100 million anchor investment for STAC. Fund shares will be issued in the form of Ethereum digital tokens, and eligible investors can subscribe through the Securitize platform.