BeInCrypto Institutional Research: 15 Digital Asset Products Driving Crypto Investment

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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