Plume Launches Tokenized Bond Vault Backed by Fidelity ETF
Plume has introduced a new vault called nBND, supported by Fidelity’s Total Bond ETF (FBND). This offering targets institutional investors seeking tokenized access to actively managed bonds. The vault operates on Nest, Plume’s protocol for converting real-world assets (RWAs) into tokens. Plume’s infrastructure is designed as a modular Layer-2 blockchain tailored for this purpose.
The product, officially named the Nest Fidelity Total Bond ETF Vault or nFBND, issues a receipt token that functions like a coat-check ticket. Users deposit capital and receive a token proving their claim on the vault’s FBND shares. This token trades on Plume’s blockchain, appealing to institutions that want compliant and liquid bond exposure. Nest vaults accept stablecoin deposits, allowing users to transfer digital dollars directly into the vault for programmable exposure to the underlying fund.
FBND is not new; Fidelity launched it on October 6, 2014, and it now manages approximately $28 billion in assets. The fund has a 0.36% expense ratio and offers a yield of around 4.88%. It is actively managed, with portfolio managers selecting bonds rather than passively tracking an index.
The FBND product stems from a partnership between Plume and ether.fi, established in June 2026. Together, they developed the Etherfi Liquid RWA vault, which launched with a $25 million initial deployment and aims to reach $100 million. The vault includes allocations to BlackRock’s iShares AAA CLO ETF and Fidelity’s FBND, offering ether.fi users regulated exposure to yield-bearing bond markets within the crypto ecosystem.
Plume’s public mainnet, Plume Genesis, launched in June 2025, focusing on asset tokenization. In October 2025, Plume obtained SEC transfer-agent registration to support tokenized securities, ensuring accurate record-keeping of ownership on the blockchain. However, investors should consider the risks, including smart contract and platform risks alongside traditional bond market risks. Interest rate fluctuations will still impact FBND’s value, regardless of the token’s chain.