Securitize Expands STAC Tokenized CLO Fund to Solana with $250 Million Ethena Allocation
Securitize has officially expanded its Securitize Tokenized AAA CLO Fund (STAC) to the Solana blockchain, marking a significant entry of institutional-grade structured credit into the network’s ecosystem. The expansion is supported by a planned $250 million allocation from Ethena Labs, which represents one of the largest commitments to tokenized structured credit on Solana to date.
STAC is designed to provide exposure to AAA-rated collateralized loan obligations (CLOs), which are pools of large corporate loans. The fund was developed in collaboration with BNY, which acts as the custodian for the underlying assets and serves as a sub-adviser through BNY Investments. The product focuses on U.S. dollar-denominated tranches without the use of leverage, aiming for risk-adjusted returns through floating-rate instruments.
Integration and Institutional Infrastructure
The move brings a major institutional fixed-income product to Solana, a network increasingly targeted for Real-World Asset (RWA) tokenization due to its transaction speed and lower operational costs. According to Securitize CEO Carlos Domingo, the expansion combines quality traditional assets with blockchain infrastructure to improve accessibility and efficiency.
For Ethena Labs, the $250 million allocation serves a specific functional role. The commitment is part of a strategy to diversify the collateral backing its synthetic dollar, USDe. By incorporating AAA-rated CLOs, Ethena aims to introduce productive, institutional-grade collateral into its reserve system, which already includes positions in other tokenized vehicles such as BlackRock’s BUIDL fund.
Market Context and Expansion Scope
This deployment occurs alongside a broader trend of institutional capital moving toward Solana-native instruments. Recent tracker data indicated that Solana’s RWA sector had reached approximately $2.7 billion in distributed asset value as of mid-June 2026, though the full impact of the Securitize and Ethena commitments has not yet been reflected in on-chain Total Value Locked (TVL) figures.
The allocation also suggests a shift toward multi-provider redundancy for structured credit on-chain. The Securitize announcement follows a similar $200 million deployment involving Centrifuge and Janus Henderson CLO tokens earlier in the week. Ethena’s Risk Committee reportedly approved the STAC allocation based on criteria including credit quality, liquidity, and pricing transparency.
Securitize, which recently announced a proposed business combination with Cantor Equity Partners II, Inc., continues to manage a suite of tokenized products across several public blockchains. While the expansion to Solana is confirmed, the exact timing for the completion of the full $250 million transfer and its subsequent appearance in public on-chain dashboards remains pending.
