Plume has launched nBND, a tokenized vault backed primarily by shares of the Fidelity Total Bond ETF, also known as FBND. Announced on October 5, 2026, the product is designed to bring actively managed bond exposure into Plume's onchain asset platform and to expand tokenized fixed income beyond the short-duration Treasury and money-market products that have so far dominated the market.
FBND is an actively managed Fidelity ETF that invests across investment-grade bonds, high-yield debt and emerging-market securities. Fidelity's official data showed the fund held about $26.6 billion in assets as of June 30, 2026, while more recent third-party estimates put the figure near $28.2 billion. That total belongs to the traditional ETF itself, not to capital deposited into Plume's nBND vault. Plume has not disclosed how many FBND shares were deposited into nBND at launch or provided an initial total value locked figure.
Plume CEO Chris Yin said institutional investors "want duration, and active management" alongside the shorter-term products already available onchain. Plume cited growth in tokenized U.S. Treasuries from $12 billion in April to $15 billion in June 2026, while noting that the global fixed-income market exceeds $100 trillion. The company framed nBND as a way to connect that larger traditional market with programmable onchain infrastructure.
Fidelity confirmed its involvement through Cynthia Lo Bessette, head of Digital Asset Management at Fidelity Investments. She said Fidelity was working with Plume to bring financial products onchain and provide investors with more programmable portfolio tools. Plume described nBND as the beginning of its work with Fidelity and said other Fidelity assets could follow, though no timeline or next fund was identified.
The launch follows Plume's broader push into regulated real-world asset infrastructure. Plume holds an SEC transfer-agent registration through its Kimber Transfer Agency unit, received a digital asset business license from the Bermuda Monetary Authority in May, and joined a DTCC digital-assets working group in August alongside Nasdaq and Charles Schwab. Earlier efforts included a planned $100 million real-world asset vault with Ether.fi and fixed-income vault integrations with Bybit and Binance Wallet.
