# What 95 files show: tokenized assets, September 2026

> 39 of 95 tokenized programs on file are not offered to US persons. In September 2026: 95 programs filed, 21 programs changed who may hold, the minimum, or the freeze powers, and 80 revisions.

- URL: https://riadefi.com/research/tokenized-assets-on-file-2026-09/
- Issue: September 2026
- Published: 2026-09-27 · Counted: 2026-09-30 (recounted daily until the month closes)
- Series: https://riadefi.com/research/tokenized-assets-on-file/

## Changed since last month

This is the first issue, so everything on file is new: 95 programs, filed between 2026-09-22 and 2026-09-26. The changes below are measured from each program’s first filing to the count.

### New on file

Every program filed (95)

- [OpenEden TBILL](https://ketjuresearch.com/register/files/openeden-tbill/), filed 2026-09-22 (US accredited investors)
- [WisdomTree Treasury Money Market Digital Fund (WTGXX)](https://ketjuresearch.com/register/files/wisdomtree-wtgxx/), filed 2026-09-22 (US retail investors)
- [Anchored aStocks (trust receipts by Anchored Capital Ltd, BVI, over Anchored Finance SPC fund shares; "a" tickers)](https://ketjuresearch.com/register/files/anchored-astocks/), filed 2026-09-23 (Not offered to US persons)
- [Anemoy Tokenized Apollo Diversified Credit Fund (ACRDX)](https://ketjuresearch.com/register/files/anemoy-acrdx/), filed 2026-09-23 (Not offered to US persons)
- [Apollo Diversified Credit Securitize Fund (ACRED)](https://ketjuresearch.com/register/files/apollo-acred/), filed 2026-09-23 (US accredited investors)
- [Backpack Securities stock tokens (trust receipts by Trek Nexus Markets Ltd, BVI, on Solana)](https://ketjuresearch.com/register/files/backpack-securities/), filed 2026-09-23 (Not offered to US persons)
- [BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (RSVXX), BRSRV token](https://ketjuresearch.com/register/files/blackrock-brsrv/), filed 2026-09-23 (US retail investors)
- [BlackRock Select Treasury Based Liquidity Fund, OnChain Shares (DOLXX), BSTBL token](https://ketjuresearch.com/register/files/blackrock-bstbl/), filed 2026-09-23 (US retail investors)
- [BlackRock USD Institutional Digital Liquidity Fund (BUIDL and the I Class, BUIDL-I)](https://ketjuresearch.com/register/files/blackrock-buidl/), filed 2026-09-23 (US qualified purchasers)
- [Blockchain Capital Token (BCAP)](https://ketjuresearch.com/register/files/blockchain-capital-bcap/), filed 2026-09-23 (US accredited investors)
- [bStocks (certificates by BTech Holdings Ltd, a Binance group company, "B" tickers)](https://ketjuresearch.com/register/files/btech-bstocks/), filed 2026-09-23 (Not offered to US persons)
- [bTokens (tracker certificates by Backed Assets (JE) Limited, "b" tickers, winding down)](https://ketjuresearch.com/register/files/backed-btokens/), filed 2026-09-23 (Not offered to US persons)
- [Circle USYC](https://ketjuresearch.com/register/files/circle-usyc/), filed 2026-09-23 (Not offered to US persons)
- [Coinbase Tokenized Stock (certificates by Coinbase Onchain SPV Ltd, ADGM, "c" tickers on Base)](https://ketjuresearch.com/register/files/coinbase-tokenized-stock/), filed 2026-09-23 (Not offered to US persons)
- [CURRENC Group ordinary shares in token form (Securitize, on Solana, Avalanche and Ethereum)](https://ketjuresearch.com/register/files/currenc-curr/), filed 2026-09-23 (US retail investors)
- [deJAAA (Open Market Factory notes linked to JAAA)](https://ketjuresearch.com/register/files/open-market-factory-dejaaa/), filed 2026-09-23 (Not offered to US persons)
- [DGLD (Gold Token SA)](https://ketjuresearch.com/register/files/gold-token-dgld/), filed 2026-09-23 (US retail investors)
- [Dinari dShares (tokenized US stocks and ETFs)](https://ketjuresearch.com/register/files/dinari-dshares/), filed 2026-09-23 (Not offered to US persons)
- [Dominion Silver (SILV)](https://ketjuresearch.com/register/files/dominion-silv/), filed 2026-09-23 (Not offered to US persons)
- [Draggable Aktionariat AG Shares (DAKS: the issuer’s own registered shares as Swiss ledger-based securities on Ethereum)](https://ketjuresearch.com/register/files/aktionariat-daks/), filed 2026-09-23 (US retail investors)
- [DTC Tokenization Service: tokenized security entitlements to DTC-held stocks, ETFs, and Treasuries](https://ketjuresearch.com/register/files/dtc-tokenized-securities/), filed 2026-09-23 (US retail investors)
- [Etherfuse Stablebonds (credit claims on sovereign bonds bought through Mexican brokers: CETES, USTRY, TESOURO, KTB, GILTS, EUROB)](https://ketjuresearch.com/register/files/etherfuse-stablebonds/), filed 2026-09-23 (Not offered to US persons)
- [Exodus Movement Class A common stock tokens (Securitize on Algorand; Superstate on Solana)](https://ketjuresearch.com/register/files/securitize-exodus-exod/), filed 2026-09-23 (US retail investors)
- [Fidelity International USD Digital Liquidity Fund (FILQ-A, FILQ-D)](https://ketjuresearch.com/register/files/fidelity-filq/), filed 2026-09-23 (Not offered to US persons)
- [Fidelity Treasury Digital Fund, OnChain class (FYOXX), FDIT token](https://ketjuresearch.com/register/files/fidelity-fdit/), filed 2026-09-23 (US accredited investors)
- [Figure Technology Solutions Series A Blockchain Common Stock (FGRS)](https://ketjuresearch.com/register/files/figure-fgrs/), filed 2026-09-23 (US retail investors)
- [Figure YLDS (Figure Transferable Certificates)](https://ketjuresearch.com/register/files/figure-ylds/), filed 2026-09-23 (US retail investors)
- [Finest fGLD](https://ketjuresearch.com/register/files/finest-fgld/), filed 2026-09-23 (US retail investors)
- [Franklin OnChain U.S. Government Money Fund (FOBXX), BENJI token](https://ketjuresearch.com/register/files/franklin-benji/), filed 2026-09-23 (US retail investors)
- [GoldZip (XGZ)](https://ketjuresearch.com/register/files/goldzip-xgz/), filed 2026-09-23 (US retail investors)
- [Herculis Gold Coin (XAUH)](https://ketjuresearch.com/register/files/herculis-xauh/), filed 2026-09-23 (US retail investors)
- [Invesco Short Duration US Government Securities Fund (USTB)](https://ketjuresearch.com/register/files/superstate-ustb/), filed 2026-09-23 (US qualified purchasers)
- [Janus Henderson Anemoy AAA CLO Fund (JAAA)](https://ketjuresearch.com/register/files/centrifuge-jaaa/), filed 2026-09-23 (Not offered to US persons)
- [Janus Henderson Anemoy Treasury Fund (JTRSY)](https://ketjuresearch.com/register/files/anemoy-jtrsy/), filed 2026-09-23 (Not offered to US persons)
- [Kinesis gold on Ethereum (ERC-20 KAU, KMS Labs)](https://ketjuresearch.com/register/files/kinesis-kau-erc20/), filed 2026-09-23 (US retail investors)
- [Kinesis silver on Ethereum (ERC-20 KAG, KMS Labs)](https://ketjuresearch.com/register/files/kinesis-kag-erc20/), filed 2026-09-23 (US retail investors)
- [Matrixdock Gold (XAUm)](https://ketjuresearch.com/register/files/matrixdock-xaum/), filed 2026-09-23 (US retail investors)
- [Matrixdock Silver (XAGm)](https://ketjuresearch.com/register/files/matrixdock-xagm/), filed 2026-09-23 (US retail investors)
- [Midas mTBILL](https://ketjuresearch.com/register/files/midas-mtbill/), filed 2026-09-23 (Not offered to US persons)
- [Neuberger Securitize High Income Tokenized Fund (HINC)](https://ketjuresearch.com/register/files/neuberger-hinc/), filed 2026-09-23 (US qualified purchasers)
- [Obligate Trade Finance Yield (oTFY)](https://ketjuresearch.com/register/files/obligate-otfy/), filed 2026-09-23 (Not offered to US persons)
- [Ondo Global Markets (tokenized stocks and ETFs, "on" tickers)](https://ketjuresearch.com/register/files/ondo-global-markets/), filed 2026-09-23 (Not offered to US persons)
- [Ondo Short-Term U.S. Government Treasuries (OUSG)](https://ketjuresearch.com/register/files/ondo-ousg/), filed 2026-09-23 (US qualified purchasers)
- [Ondo U.S. Dollar Yield (USDY, rUSDY, mUSD)](https://ketjuresearch.com/register/files/ondo-usdy/), filed 2026-09-23 (Not offered to US persons)
- [OnRe Tokenized Reinsurance (ONyc)](https://ketjuresearch.com/register/files/onre-onyc/), filed 2026-09-23 (Not offered to US persons)
- [PAX Gold (PAXG)](https://ketjuresearch.com/register/files/paxos-paxg/), filed 2026-09-23 (US retail investors)
- [Pleasing Gold (PGOLD)](https://ketjuresearch.com/register/files/pleasing-pgold/), filed 2026-09-23 (US retail investors)
- [RealUnit Shares (REALU: RealUnit Schweiz AG’s registered shares as Swiss ledger-based securities on Ethereum)](https://ketjuresearch.com/register/files/aktionariat-realunit/), filed 2026-09-23 (Not offered to US persons)
- [Republic pre-IPO notes on Bitget IPO Prime (preOPAI, preSPCX)](https://ketjuresearch.com/register/files/republic-pre-ipo/), filed 2026-09-23 (Not offered to US persons)
- [Robinhood Stock Tokens (tracker certificates by Robinhood Assets (Jersey) Limited on Robinhood Chain)](https://ketjuresearch.com/register/files/robinhood-stock-tokens/), filed 2026-09-23 (Not offered to US persons)
- [rTokens (Reality, Bitget’s issuance platform; listed on CoinGecko as "rStock")](https://ketjuresearch.com/register/files/reality-rtokens/), filed 2026-09-23 (Not offered to US persons)
- [Securitize Tokenized AAA CLO Fund (STAC)](https://ketjuresearch.com/register/files/securitize-stac/), filed 2026-09-23 (US accredited investors)
- [SilverTimes Token (STT)](https://ketjuresearch.com/register/files/silvertimes-stt/), filed 2026-09-23 (US retail investors)
- [Spiko Digital Assets Cash and Carry Fund (SPKCC, eurSPKCC)](https://ketjuresearch.com/register/files/spiko-cash-carry/), filed 2026-09-23 (Not offered to US persons)
- [Spiko SICAV: US T-Bills, EU T-Bills, and Amundi Overnight Swap Funds (USTBL, EUTBL, SAFO)](https://ketjuresearch.com/register/files/spiko-ustbl-eutbl/), filed 2026-09-23 (Not offered to US persons)
- [ST0x tokenized stocks and ETFs (S01 Issuer GmbH debt tokens on Base; traded as wt- vault shares)](https://ketjuresearch.com/register/files/st0x/), filed 2026-09-23 (Not offered to US persons)
- [STRATO Gold and Silver (GOLDST, SILVST)](https://ketjuresearch.com/register/files/strato-goldst-silvst/), filed 2026-09-23 (US retail investors)
- [Streamex GLDY](https://ketjuresearch.com/register/files/streamex-gldy/), filed 2026-09-23 (US accredited investors)
- [Superstate Opening Bell (tokenized common stock of listed companies)](https://ketjuresearch.com/register/files/superstate-opening-bell/), filed 2026-09-23 (US retail investors)
- [Switzerlend AG C1 Shares SHA (LENDS: preferred shares of the lend.ch lending platform as Swiss ledger-based securities, locked in a drag-along contract)](https://ketjuresearch.com/register/files/aktionariat-switzerlend/), filed 2026-09-23 (US retail investors)
- [Sygnum FIUSD (Fidelity Institutional Liquidity Fund, US Dollar Fund, Class G Acc)](https://ketjuresearch.com/register/files/sygnum-fiusd/), filed 2026-09-23 (Not offered to US persons)
- [Tenbin Gold (tGLD)](https://ketjuresearch.com/register/files/tenbin-tgld/), filed 2026-09-23 (Not offered to US persons)
- [Tessera T-Tokens (loans to Panama issuers repaid from SpaceX, Kalshi, and OpenAI exposure)](https://ketjuresearch.com/register/files/tessera-pre-ipo/), filed 2026-09-23 (Not offered to US persons)
- [Tether Gold (XAUT)](https://ketjuresearch.com/register/files/tether-gold-xaut/), filed 2026-09-23 (Not offered to US persons)
- [Theo Short Duration US Treasury Fund (thBILL)](https://ketjuresearch.com/register/files/theo-thbill/), filed 2026-09-23 (Not offered to US persons)
- [Token Teknoloji Gram Gold and Gram Silver (GRAMG, GRAMS)](https://ketjuresearch.com/register/files/token-teknoloji-gram/), filed 2026-09-23 (US retail investors)
- [Tokenized SECZ (Securitize Corp. common stock, issuer-tokenized on Avalanche and Solana)](https://ketjuresearch.com/register/files/securitize-secz/), filed 2026-09-23 (US retail investors)
- [Tradable private-credit deal tokens](https://ketjuresearch.com/register/files/tradable-deal-tokens/), filed 2026-09-23 (US accredited investors)
- [UBS USD Money Market Investment Fund Token (uMINT)](https://ketjuresearch.com/register/files/ubs-umint/), filed 2026-09-23 (Not offered to US persons)
- [USDM1 (Republic of the Marshall Islands tokenized secured bonds, redeemable at one US dollar)](https://ketjuresearch.com/register/files/usdm1/), filed 2026-09-23 (Not offered to US persons)
- [VanEck Treasury Fund (VBILL)](https://ketjuresearch.com/register/files/vaneck-vbill/), filed 2026-09-23 (US qualified purchasers)
- [VNX Gold (VNXAU)](https://ketjuresearch.com/register/files/vnx-gold/), filed 2026-09-23 (US retail investors)
- [wemakeit AG shares (WMKT: a Swiss crowdfunding platform’s registered shares as ledger-based securities on Ethereum)](https://ketjuresearch.com/register/files/aktionariat-wemakeit/), filed 2026-09-23 (US retail investors)
- [XAUt0 (Tether Gold on the USDT0 Network)](https://ketjuresearch.com/register/files/tether-gold-xaut0/), filed 2026-09-23 (Not offered to US persons)
- [xStocks (tracker certificates by Backed Assets (JE) Limited, "x" tickers)](https://ketjuresearch.com/register/files/xstocks/), filed 2026-09-23 (Not offered to US persons)
- [xU3O8 (uranium.io)](https://ketjuresearch.com/register/files/uranium-xu3o8/), filed 2026-09-23 (US retail investors)
- [Bitwise Crypto Carry Fund (USCC)](https://ketjuresearch.com/register/files/bitwise-uscc/), filed 2026-09-24 (US qualified purchasers)
- [Coinbase USD Stablecoin Yield Fund (CUSHY)](https://ketjuresearch.com/register/files/coinbase-cushy/), filed 2026-09-24 (US qualified purchasers)
- [Delta Wellington Ultra Short Treasury On-Chain Fund (ULTRA)](https://ketjuresearch.com/register/files/delta-wellington-ultra/), filed 2026-09-24 (US qualified purchasers)
- [DigiFT security tokens (iSNR, bEQTY, pEAK, CMBMINT and others)](https://ketjuresearch.com/register/files/digift-security-tokens/), filed 2026-09-24 (Not offered to US persons)
- [Franklin OnChain Institutional Liquidity Fund (iBENJI)](https://ketjuresearch.com/register/files/franklin-onchain-institutional/), filed 2026-09-24 (US qualified purchasers)
- [Hamilton Lane Equity Opportunities Securitize Fund V (HLEOVUS)](https://ketjuresearch.com/register/files/hamilton-lane-eov/), filed 2026-09-24 (US qualified purchasers)
- [Hamilton Lane Secondary VI Securitize Fund (HLSF6)](https://ketjuresearch.com/register/files/hamilton-lane-sf6/), filed 2026-09-24 (US qualified purchasers)
- [Hamilton Lane Senior Credit Opportunities Securitize Fund (HLSCOPE)](https://ketjuresearch.com/register/files/hamilton-lane-scope/), filed 2026-09-24 (US qualified purchasers)
- [OpenTrade Loan Vaults (XMMF, XTBT, XEVT, XFTB, XHYC)](https://ketjuresearch.com/register/files/opentrade-loan-vaults/), filed 2026-09-24 (US accredited investors)
- [USDtb (Anchorage Digital Bank)](https://ketjuresearch.com/register/files/ethena-usdtb/), filed 2026-09-24 (US retail investors)
- [ARK Venture Fund (ARKVX), tokenized by Securitize](https://ketjuresearch.com/register/files/ark-venture-fund/), filed 2026-09-25 (US retail investors)
- [BNY Dreyfus On-Chain Liquidity Fund (BCLXX), BLIQUID token](https://ketjuresearch.com/register/files/bny-dreyfus-onchain-liquidity/), filed 2026-09-25 (US accredited investors)
- [DeedFlow Royalty Revenue Bonds, Series 2026](https://ketjuresearch.com/register/files/deedflow-royalty-bonds/), filed 2026-09-25 (US retail investors)
- [Hamco Tokenized Pan-Asia Private Equity Fund](https://ketjuresearch.com/register/files/hamco-pan-asia-pe/), filed 2026-09-25 (Not offered to US persons)
- [Nomyx Revenue Participation Bonds, Series 2026 (Bond Tokens)](https://ketjuresearch.com/register/files/nomyx-revenue-bonds/), filed 2026-09-25 (US retail investors)
- [Ondo Intelligent Portfolios (seven portfolio tokens, "on" tickers)](https://ketjuresearch.com/register/files/ondo-model-portfolios/), filed 2026-09-25 (Not offered to US persons)
- [WisdomTree 500 Digital ETF](https://ketjuresearch.com/register/files/wisdomtree-500-digital-etf/), filed 2026-09-25 (US retail investors)
- [Lofty property shares (one Algorand asset per rental property)](https://ketjuresearch.com/register/files/lofty/), filed 2026-09-26 (US retail investors)
- [RealT RealTokens (per-property rental interests, in liquidation)](https://ketjuresearch.com/register/files/realt-tokens/), filed 2026-09-26 (Not offered to US persons)

### Who may hold it

| Program | Was | Now | Changed |
| --- | --- | --- | --- |
| Invesco Short Duration US Government Securities Fund (USTB) | US accredited investors | US qualified purchasers | 2026-09-23 |

### The minimum

| Program | Was | Now | Changed |
| --- | --- | --- | --- |
| Janus Henderson Anemoy AAA CLO Fund (JAAA) | Not stated | $500,000 | 2026-09-23 |
| Janus Henderson Anemoy Treasury Fund (JTRSY) | Not stated | $500,000 | 2026-09-23 |
| Midas mTBILL | Not stated | $1 | 2026-09-23 |
| Spiko SICAV: US T-Bills, EU T-Bills, and Amundi Overnight Swap Funds (USTBL, EUTBL, SAFO) | Not stated | $1 | 2026-09-23 |
| Streamex GLDY | Not stated | $1 | 2026-09-24 |
| VanEck Treasury Fund (VBILL) | $100,000 | $1,000,000 | 2026-09-23 |

### Freeze powers

What the file records about the issuer’s power to freeze a holder, claw tokens back, or pause transfers, read from the deployed contracts.

| Program | What the file now records | Changed |
| --- | --- | --- |
| BlackRock USD Institutional Digital Liquidity Fund (BUIDL and the I Class, BUIDL-I) | Adds freeze on Ethereum | 2026-09-23 |
| bTokens (tracker certificates by Backed Assets (JE) Limited, "b" tickers, winding down) | Adds freeze on Avalanche, BSC; adds claw back on Solana | 2026-09-29 |
| Circle USYC | Adds pause on Ethereum | 2026-09-23 |
| deJAAA (Open Market Factory notes linked to JAAA) | Adds pause on Stellar | 2026-09-30 |
| DigiFT security tokens (iSNR, bEQTY, pEAK, CMBMINT and others) | Adds freeze on Arbitrum, BSC; adds claw back on BSC | 2026-09-24 |
| Dinari dShares (tokenized US stocks and ETFs) | Adds claw back on Plume Mainnet | 2026-09-24 |
| Figure Technology Solutions Series A Blockchain Common Stock (FGRS) | Adds claw back on Provenance | 2026-09-29 |
| Franklin OnChain U.S. Government Money Fund (FOBXX), BENJI token | Adds freeze on Avalanche, Base | 2026-09-24 |
| Janus Henderson Anemoy AAA CLO Fund (JAAA) | Adds freeze on Ethereum | 2026-09-23 |
| Janus Henderson Anemoy Treasury Fund (JTRSY) | Adds freeze on Ethereum | 2026-09-23 |
| Matrixdock Silver (XAGm) | Adds pause on Sui | 2026-09-29 |
| Neuberger Securitize High Income Tokenized Fund (HINC) | Adds freeze on Avalanche; adds claw back on Avalanche | 2026-09-24 |
| Securitize Tokenized AAA CLO Fund (STAC) | Adds freeze on Ethereum | 2026-09-23 |
| STRATO Gold and Silver (GOLDST, SILVST) | Adds claw back on STRATO | 2026-09-30 |
| VanEck Treasury Fund (VBILL) | Adds freeze on Ethereum | 2026-09-23 |
| XAUt0 (Tether Gold on the USDT0 Network) | Adds freeze on BSC, Monad, Plasma; adds claw back on BSC, Monad, Plasma | 2026-09-24 |
| xStocks (tracker certificates by Backed Assets (JE) Limited, "x" tickers) | Drops claw back on Ethereum, Arbitrum, BSC and 1 more chains | 2026-09-23 |

### Revisions

The desk superseded 80 records across 41 files. A superseded record is kept, not erased, with the reason in the desk’s words.

Every revision, with its reason (80)

- 2026-09-23, [BlackRock USD Institutional Digital Liquidity Fund (BUIDL)](https://ketjuresearch.com/register/files/blackrock-buidl/): Superseded the same day: the control reading stopped at the token ABI and missed the Securitize lock manager the token consults on every transfer, so the file said the issuer cannot freeze a holder. It can, through lockInvestor. Same claim model, terms, and exit.
- 2026-09-23, [BlackRock USD Institutional Digital Liquidity Fund (BUIDL)](https://ketjuresearch.com/register/files/blackrock-buidl/): Superseded to quote the issuer’s terms: every Form D states a $100,000 minimum while the launch release states $5 million; the file keeps the higher figure and says so.
- 2026-09-23, [BlackRock USD Institutional Digital Liquidity Fund (BUIDL)](https://ketjuresearch.com/register/files/blackrock-buidl/): Superseded to add the I Class (BUIDL-I), a second class of the same fund that the file did not list: an Ethereum Securitize DS token holding 239.7 million shares across six wallets on 23 September 2026, run by the same owner key as BUIDL. The file moves to file-records/blackrock-buidl.ts; the BUIDL class terms, contracts, and readings are unchanged.
- 2026-09-23, [Circle USYC](https://ketjuresearch.com/register/files/circle-usyc/): Superseded the same day: the control reading stopped at the token ABI and missed the RolesAuthority contract every transfer checks, which gates both wallets and can pause all transfers. The file said no allowlist and no pause. Same claim model, terms, and exit.
- 2026-09-23, [Circle USYC](https://ketjuresearch.com/register/files/circle-usyc/): Superseded the same day: the file called the token the official record (issuer direct) while its own transfer-agent line said the administrator keeps the register. The documents reviewed do not settle which governs, so the claim model and the official record now say Not stated.
- 2026-09-23, [Circle USYC](https://ketjuresearch.com/register/files/circle-usyc/): Superseded to quote the issuer’s terms: Circle’s documents say ownership is shares at the transfer agent and the administrator updates the register, which settles the open question; the claim model is now issuer indirect. Redemption is into USDC, around the clock, up to the instant limit.
- 2026-09-23, [Exodus Movement Class A common stock tokens (Securitize on Algorand; Superstate on Solana)](https://ketjuresearch.com/register/files/securitize-exodus-exod/): Superseded the same day to add the Algorand reading of asset 213345970: holders start frozen, and single keys hold the freeze, clawback, manager, and reserve addresses.
- 2026-09-23, [Invesco Short Duration US Government Securities Fund (USTB)](https://ketjuresearch.com/register/files/superstate-ustb/): Superseded the same day: the issuer lists “Accredited Investors and Qualified Purchasers” without saying whether both are required, and the file had taken the looser reading. When the terms are unclear the file takes the stricter one: qualified purchaser.
- 2026-09-23, [Invesco Short Duration US Government Securities Fund (USTB)](https://ketjuresearch.com/register/files/superstate-ustb/): Superseded to quote the issuer’s terms: the documents now say qualified purchasers, closing the open question; the administrator line named the wrong fund’s administrator, and Superstate does not say which of its records governs, so the claim model is now Not stated.
- 2026-09-23, [Janus Henderson Anemoy AAA CLO Fund (JAAA)](https://ketjuresearch.com/register/files/centrifuge-jaaa/): Superseded the same day: the control reading stopped at the token ABI and missed the Centrifuge FullRestrictions hook every transfer calls, which can freeze a holder, and the file() setter that can replace it. The file said no freeze and not upgradeable. Same claim model, terms, and exit.
- 2026-09-23, [Janus Henderson Anemoy AAA CLO Fund (JAAA)](https://ketjuresearch.com/register/files/centrifuge-jaaa/): Superseded to quote the issuer’s terms: the June 2026 fact sheet states a 500,000 USDC minimum and settlement in other stablecoins as well as USDC.
- 2026-09-23, [Janus Henderson Anemoy Treasury Fund (JTRSY)](https://ketjuresearch.com/register/files/anemoy-jtrsy/): Superseded the same day: the control reading stopped at the token ABI and missed the Centrifuge FullRestrictions hook every transfer calls, which can freeze a holder, and the file() setter that can replace it. The file said no freeze and not upgradeable. Same claim model, terms, and exit.
- 2026-09-23, [Janus Henderson Anemoy Treasury Fund (JTRSY)](https://ketjuresearch.com/register/files/anemoy-jtrsy/): Superseded to quote the issuer’s terms: the June 2026 fact sheet states a 500,000 USDC minimum and J.P. Morgan as custodian, and settlement in other stablecoins as well as USDC.
- 2026-09-23, [Midas mTBILL](https://ketjuresearch.com/register/files/midas-mtbill/): Superseded the same day: permissionless transfer had been filed as a venue. It is a fact about the contract, already recorded as no allowlist in the control table, and is now stated as a term rather than a place to trade.
- 2026-09-23, [Midas mTBILL](https://ketjuresearch.com/register/files/midas-mtbill/): Superseded to quote the issuer’s terms: the final terms set a USD 1.00 minimum and settle in USD, USDC, USDT, and euro, and the prospectus bars Canada, China, Australia, and Iran as well as the United States.
- 2026-09-23, [Ondo Short-Term U.S. Government Treasuries (OUSG)](https://ketjuresearch.com/register/files/ondo-ousg/): Superseded the same day: the file called the token the official record (issuer direct) while its own transfer-agent line said the fund administrator keeps the register. The documents reviewed do not settle which governs, so the claim model and the official record now say Not stated.
- 2026-09-23, [Ondo Short-Term U.S. Government Treasuries (OUSG)](https://ketjuresearch.com/register/files/ondo-ousg/): Superseded to quote the issuer’s terms: the $5,000 minimum applies to instant subscriptions only; outside that path the minimums are $100,000 and $50,000, and redemptions settle in PYUSD and RLUSD too.
- 2026-09-23, [Ondo U.S. Dollar Yield (USDY, rUSDY, mUSD)](https://ketjuresearch.com/register/files/ondo-usdy/): Superseded the same day: the reader now follows the blocklist contract the Plume token consults; its source is not verified, so the Plume allowlist answer is Unverified rather than No.
- 2026-09-23, [Ondo U.S. Dollar Yield (USDY, rUSDY, mUSD)](https://ketjuresearch.com/register/files/ondo-usdy/): Superseded to correct the Ethereum rUSDY row. The file read clawback as No; the reader now follows the token’s verified source to burnShares, which lets the burner role burn any holder’s rUSDY. The row now reads Yes.
- 2026-09-23, [OpenEden TBILL](https://ketjuresearch.com/register/files/openeden-tbill/): Superseded to quote the issuer’s terms: the U.S. user agreement names Treasury Bills International Liquidity Limited as issuer, allows redemption up to T+3 and in other stablecoins or dollars, and reserves a freeze; no document read says the chain is the register, so the claim model is now Not stated.
- 2026-09-23, [Securitize Tokenized AAA CLO Fund (STAC)](https://ketjuresearch.com/register/files/securitize-stac/): Superseded the same day: the control reading stopped at the token ABI and missed the Securitize lock manager, so the file said the issuer cannot freeze a holder. It can, through lockInvestor. Same claim model, terms, and exit.
- 2026-09-23, [Securitize Tokenized AAA CLO Fund (STAC)](https://ketjuresearch.com/register/files/securitize-stac/): Superseded to add the issuer’s own words for each term; the accredited floor now says which words it rests on.
- 2026-09-23, [Spiko US T-Bills and EU T-Bills Money Market Funds (USTBL, EUTBL)](https://ketjuresearch.com/register/files/spiko-ustbl-eutbl/): Superseded the same day: the control reading stopped at the token ABI and missed the permission-manager authority every transfer checks, which admits only allowlisted wallets. The file said no allowlist. Same claim model, terms, and exit.
- 2026-09-23, [Spiko US T-Bills and EU T-Bills Money Market Funds (USTBL, EUTBL)](https://ketjuresearch.com/register/files/spiko-ustbl-eutbl/): Superseded to quote the issuer’s terms from the 29 July 2026 prospectus: a 1 USD minimum, an 11:30 a.m. Paris cutoff, a redemption gate, and a register the prospectus places with Spiko Finance on public blockchains, not under the EU DLT pilot regime.
- 2026-09-23, [Spiko US T-Bills and EU T-Bills Money Market Funds (USTBL, EUTBL)](https://ketjuresearch.com/register/files/spiko-ustbl-eutbl/): Superseded to add the Spiko Amundi Overnight Swap Fund (SAFO) EUR, USD, and GBP shares, a sub-fund of the same SICAV under the same manager, transfer agent, allowlist, and US-person bar; SAFO differs in its 3:00 p.m. Paris cutoff, next-day redemption, and 25% redemption cap. SAFO is not a money market fund, so the file kind is now mixed. The prospectus citation moves to the 1 September 2026 version, and the freeze answer now says the chain shows more burners than the redemption contract Spiko’s blog names.
- 2026-09-23, [VanEck Treasury Fund (VBILL)](https://ketjuresearch.com/register/files/vaneck-vbill/): Superseded the same day: the control reading stopped at the token ABI and missed the Securitize lock manager, so the file said the issuer cannot freeze a holder. It can, through lockInvestor. Same claim model, terms, and exit.
- 2026-09-23, [VanEck Treasury Fund (VBILL)](https://ketjuresearch.com/register/files/vaneck-vbill/): Superseded the same day: the Ethereum share class minimum of $1,000,000 had been filed inside a venue name. The minimum is now the stricter figure with the per-chain terms stated as a term, and the venue is just the venue.
- 2026-09-23, [VanEck Treasury Fund (VBILL)](https://ketjuresearch.com/register/files/vaneck-vbill/): Superseded to add the issuer’s own words for each term; no fact changed.
- 2026-09-23, [WisdomTree Government Money Market Digital Fund (WTGXX)](https://ketjuresearch.com/register/files/wisdomtree-wtgxx/): Superseded the same day: the file listed only individuals as account types while its own venue row names WisdomTree Connect, the institutional channel. Entities are now listed, with the channel each uses.
- 2026-09-23, [WisdomTree Government Money Market Digital Fund (WTGXX)](https://ketjuresearch.com/register/files/wisdomtree-wtgxx/): Superseded to quote the issuer’s terms from the current prospectus (Form 497, revised 2026-08-14): the fund was renamed the Treasury Money Market Digital Fund, and the 1:00 p.m. cutoff the file carried came from the 2023 prospectus and is no longer stated.
- 2026-09-23, [WisdomTree Treasury Money Market Digital Fund (WTGXX)](https://ketjuresearch.com/register/files/wisdomtree-wtgxx/): Superseded to record the state list. The file said the list was unconfirmed and cited a 2024 Stellar statement that Prime reached 41 states; WisdomTree Prime’s own FAQ now says the app is available in all 50 US states, so the file lists the 50 states and quotes the FAQ. DC and the territories are not named and stay off the list.
- 2026-09-23, [xStocks (tracker certificates by Backed Assets (JE) Limited, "x" tickers)](https://ketjuresearch.com/register/files/xstocks/): Superseded the same day: the reader counted Backed’s burn(address, uint256) as a clawback, but the verified source lets the burner burn only its own or the contract’s tokens, so the four EVM rows now say No. Tron and TON rows were added: on Tron a single key owns the contract and its upgrades; on TON a 2-of-3 multisig is the jetton admin.
- 2026-09-24, [bTokens (tracker certificates by Backed Assets (JE) Limited, "b" tickers, winding down)](https://ketjuresearch.com/register/files/backed-btokens/): Superseded to record the Avalanche contract’s freeze and allowlist powers, marked unverified when the explorer did not answer. The verified source now read shows both; the Avalanche contract has no clawback, as the file already said for the other chains.
- 2026-09-24, [bTokens (tracker certificates by Backed Assets (JE) Limited, "b" tickers, winding down)](https://ketjuresearch.com/register/files/backed-btokens/): Superseded to correct the allowlist and settle the BSC powers the file had marked unverified. The allowlist the file recorded as true came from delegateWhitelist, which only controls who may relay a transfer a holder signed, so no chain has an allowlist. BSC’s implementation has no verified source there but is the same code as the verified Arbitrum implementation at the same address: it can freeze a holder and cannot claw back.
- 2026-09-24, [Coinbase USD Stablecoin Yield Fund (CUSHY)](https://ketjuresearch.com/register/files/coinbase-cushy/): Superseded to settle the Base freeze power the file had marked unverified: the whole transfer path is now read from verified source, and it has no freeze on Base.
- 2026-09-24, [DigiFT security tokens (iSNR, bEQTY, pEAK, CMBMINT and others)](https://ketjuresearch.com/register/files/digift-security-tokens/): Superseded to settle what the file had marked unverified. SecurityToken’s upgrade(address) sends every later call to a new contract, so the token’s code can be replaced on all four chains. On Arbitrum and BSC, where the management contract or the token has no verified source of its own, their code is the same as DigiFT’s verified contracts elsewhere: holders can be frozen and limited to a whitelist, and on BSC the manager can burn any holder’s tokens.
- 2026-09-24, [Dinari dShares (tokenized US stocks and ETFs)](https://ketjuresearch.com/register/files/dinari-dshares/): Superseded to correct the allowlist and settle the Plume clawback. The Plume clawback, marked unverified, is read from verified source: the contract can take a holder’s tokens. The allowlist the file recorded as true on Ethereum, Arbitrum, Base, and Plume rested on function names: every transfer asks Dinari’s access-control contract, whose source is not published anywhere readable, so the allowlist is unverified on all four chains.
- 2026-09-24, [Etherfuse Stablebonds (credit claims on sovereign bonds bought through Mexican brokers: CETES, USTRY, TESOURO, KTB, GILTS, EUROB)](https://ketjuresearch.com/register/files/etherfuse-stablebonds/): Superseded to settle the Monad powers the file had marked unverified. The Monad contract matches the verified Base contract apart from the LayerZero endpoint it was built with: it keeps no holder list, cannot freeze, pause, or claw back on Monad.
- 2026-09-24, [Franklin OnChain U.S. Government Money Fund (FOBXX), BENJI token](https://ketjuresearch.com/register/files/franklin-benji/): Superseded to record the Avalanche contract’s freeze and allowlist powers, which the file had marked unverified because the explorer did not answer. The reader now reads them from the verified source: the Avalanche BENJI contract can freeze a holder and limit holders to a list, as on the other chains.
- 2026-09-24, [Franklin OnChain U.S. Government Money Fund (FOBXX), BENJI token](https://ketjuresearch.com/register/files/franklin-benji/): Superseded to settle the Base allowlist and freeze powers the file had marked unverified. Base’s authorization module has no verified source there, but its code matches Franklin’s verified Ethereum module apart from its own stored address: on Base too, BENJI can freeze a holder and limit holders to a list.
- 2026-09-24, [Invesco Short Duration US Government Securities Fund (USTB)](https://ketjuresearch.com/register/files/superstate-ustb/): Superseded to name the issuer’s own record. Superstate publishes USTB’s daily NAV per share and shares outstanding at api.superstate.co/v1/funds/1/nav-daily; the file now names it as the record source, so the monitor checks the market quote against the published NAV and the on-chain supply against the shares outstanding. The terms, contracts, and readings are unchanged.
- 2026-09-24, [Neuberger Securitize High Income Tokenized Fund (HINC)](https://ketjuresearch.com/register/files/neuberger-hinc/): Superseded to record the Avalanche contract’s freeze, allowlist, and clawback powers, marked unverified when the explorer did not answer. The verified source now read shows all three, as on the other chains.
- 2026-09-24, [Ondo Global Markets (tokenized stocks and ETFs, "on" tickers)](https://ketjuresearch.com/register/files/ondo-global-markets/): Superseded to settle the BSC freeze power the file had marked unverified. The BSC compliance view contract has no verified source of its own, but its code is the same as Ondo’s verified Ethereum contract apart from per-deployment constants; read through it, the BSC token has no freeze.
- 2026-09-24, [Ondo U.S. Dollar Yield (USDY, rUSDY, mUSD)](https://ketjuresearch.com/register/files/ondo-usdy/): Superseded to settle the Plume allowlist the file had marked unverified: the verified source now read shows no holder list on Plume.
- 2026-09-24, [Securitize Tokenized AAA CLO Fund (STAC)](https://ketjuresearch.com/register/files/securitize-stac/): Superseded to reconcile the minimum with the fund’s Form D. The November 2025 Form D states a $0 minimum and claims Rule 506(c) and section 3(c)(1); the file kept Securitize’s $100,000 tile without naming the filing. The file now cites the Form D and says it keeps the stricter figure.
- 2026-09-24, [Streamex GLDY](https://ketjuresearch.com/register/files/streamex-gldy/): Superseded because the minimum was stated after all. The file said no document names a minimum; Streamex Ltd.’s February 2026 Form D states $1 as the minimum accepted from any outside investor, and reports no sales and no investors at filing. The file now quotes the Form D.
- 2026-09-24, [Token Teknoloji Gram Gold and Gram Silver (GRAMG, GRAMS)](https://ketjuresearch.com/register/files/token-teknoloji-gram/): Superseded to settle the allowlist the file had marked unverified. The contract keeps a KYC list, but both KYC checks in its transfer hook are commented out and the contract cannot be upgraded, so the list can never stop a transfer: no allowlist on Avalanche, Ethereum, or Polygon.
- 2026-09-24, [UBS USD Money Market Investment Fund Token (uMINT)](https://ketjuresearch.com/register/files/ubs-umint/): Superseded because the allowlist the file recorded as true rested on function names, not on code. Transfers ask a rule-engine contract whose source is not published anywhere readable, so what it checks cannot be read: the allowlist is unverified until that source is.
- 2026-09-24, [USDtb (Anchorage Digital Bank)](https://ketjuresearch.com/register/files/ethena-usdtb/): Superseded the day it was published: the file called USDtb issuer direct and a note, the nearest values the file type then had, so the page said the chain is a securityholder file. USDtb is a bank’s promise to pay $1 and has no securityholder file. The file type gained the claim model issuer liability and the kind payment stablecoin, and the file now uses both. Terms, contracts, and readings are unchanged.
- 2026-09-24, [USDtb (Anchorage Digital Bank)](https://ketjuresearch.com/register/files/ethena-usdtb/): Superseded to settle the allowlist the file had marked unverified. Two deprecated whitelist constants remain in the source but nothing reads them; no holder list gates transfers.
- 2026-09-24, [VanEck Treasury Fund (VBILL)](https://ketjuresearch.com/register/files/vaneck-vbill/): Superseded to reconcile the minimum with the fund’s Form D. The May 2026 Form D/A states $100,000 as the minimum accepted from any outside investor, the lowest share-class figure; the file kept the $1,000,000 Ethereum class minimum without naming the filing. The file now cites the Form D and says which figure it follows.
- 2026-09-24, [XAUt0 (Tether Gold on the USDT0 Network)](https://ketjuresearch.com/register/files/tether-gold-xaut0/): Superseded to settle the BSC, Monad, and Plasma powers the file had marked unverified. Their implementations have no verified source on those chains, but each is byte for byte the same as XAUt0’s verified Arbitrum implementation: each can freeze a holder and burn a frozen balance, and none keeps a holder list or pauses. HyperEVM stays unverified.
- 2026-09-24, [xStocks (tracker certificates by Backed Assets (JE) Limited, "x" tickers)](https://ketjuresearch.com/register/files/xstocks/): Superseded to correct the allowlist and settle three powers the file had marked unverified. The allowlist the file recorded as true on Ethereum, Arbitrum, BSC, Optimism, and Tron came from delegateWhitelist, which only controls who may relay a transfer a holder signed; it never stops a holder from sending, so there is no allowlist. On Tron, the verified source from Tronscan shows burn only takes the burner’s own or the contract’s tokens, so there is no clawback. On TON, the jetton wallet is the official stablecoin wallet build, which keeps no holder list and has no pause of its own; freeze, clawback, and upgrades on TON stay unverified because the master contract’s code is not published.
- 2026-09-27, [Anemoy Tokenized Apollo Diversified Credit Fund (ACRDX)](https://ketjuresearch.com/register/files/anemoy-acrdx/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [BlackRock Daily Reinvestment Stablecoin Reserve Vehicle (RSVXX), BRSRV token](https://ketjuresearch.com/register/files/blackrock-brsrv/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [bTokens (tracker certificates by Backed Assets (JE) Limited, "b" tickers, winding down)](https://ketjuresearch.com/register/files/backed-btokens/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [deJAAA (Open Market Factory notes linked to JAAA)](https://ketjuresearch.com/register/files/open-market-factory-dejaaa/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [Invesco Short Duration US Government Securities Fund (USTB)](https://ketjuresearch.com/register/files/superstate-ustb/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [Ondo Global Markets (tokenized stocks and ETFs, "on" tickers)](https://ketjuresearch.com/register/files/ondo-global-markets/): Superseded to add the Hyperliquid L1 (HyperEVM) control reading: the file listed the tokens there with no reading of who can freeze, pause, or claw them back, so a wallet holding one on that chain matched nothing. The terms and the claim model did not change.
- 2026-09-27, [Ondo Short-Term U.S. Government Treasuries (OUSG)](https://ketjuresearch.com/register/files/ondo-ousg/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [Ondo U.S. Dollar Yield (USDY, rUSDY, mUSD)](https://ketjuresearch.com/register/files/ondo-usdy/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [rTokens (Reality, Bitget’s issuance platform; listed on CoinGecko as "rStock")](https://ketjuresearch.com/register/files/reality-rtokens/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [Superstate Opening Bell (tokenized common stock of listed companies)](https://ketjuresearch.com/register/files/superstate-opening-bell/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [XAUt0 (Tether Gold on the USDT0 Network)](https://ketjuresearch.com/register/files/tether-gold-xaut0/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-27, [xStocks (tracker certificates by Backed Assets (JE) Limited, "x" tickers)](https://ketjuresearch.com/register/files/xstocks/): Superseded to add the Hyperliquid L1 (HyperEVM) control reading: the file listed the tokens there with no reading of who can freeze, pause, or claw them back, so a wallet holding one on that chain matched nothing. The terms and the claim model did not change.
- 2026-09-27, [xStocks (tracker certificates by Backed Assets (JE) Limited, "x" tickers)](https://ketjuresearch.com/register/files/xstocks/): Superseded to add control readings on chains the file listed without one, so a wallet holding the token there matches the file and the daily watch reads it. The terms and the claim model did not change.
- 2026-09-29, [bTokens (tracker certificates by Backed Assets (JE) Limited, "b" tickers, winding down)](https://ketjuresearch.com/register/files/backed-btokens/): The file listed bTSLA on Solana without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [Figure Technology Solutions Series A Blockchain Common Stock (FGRS)](https://ketjuresearch.com/register/files/figure-fgrs/): The file listed FGRS on Provenance without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [Figure YLDS (Figure Transferable Certificates)](https://ketjuresearch.com/register/files/figure-ylds/): The file listed YLDS on Provenance without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [Finest fGLD](https://ketjuresearch.com/register/files/finest-fgld/): The file listed fGLD on Cardano without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [Franklin OnChain U.S. Government Money Fund (FOBXX), BENJI token](https://ketjuresearch.com/register/files/franklin-benji/): The file listed BENJI on Aptos without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [Herculis Gold Coin (XAUH)](https://ketjuresearch.com/register/files/herculis-xauh/): The file listed XAUH on TON without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [Matrixdock Gold (XAUm)](https://ketjuresearch.com/register/files/matrixdock-xaum/): The file listed XAUm on Sui without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [Matrixdock Silver (XAGm)](https://ketjuresearch.com/register/files/matrixdock-xagm/): The file listed XAGm on Sui without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [Ondo U.S. Dollar Yield (USDY, rUSDY, mUSD)](https://ketjuresearch.com/register/files/ondo-usdy/): The file listed USDY on Sui, USDY on Aptos and USDY on Noble without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [VNX Gold (VNXAU)](https://ketjuresearch.com/register/files/vnx-gold/): The file listed VNXAU on Tezos and VNXAU on Stellar without a reading of who controls the token there. This version adds that reading, so a client wallet holding it now matches this file.
- 2026-09-29, [XAUt0 (Tether Gold on the USDT0 Network)](https://ketjuresearch.com/register/files/tether-gold-xaut0/): The file listed XAUt0 on Stable and TON without a reading of who controls the token there. This version adds both readings, so a client wallet holding XAUt0 on TON now matches this file. Stable wallets are not read yet.
- 2026-09-30, [deJAAA (Open Market Factory notes linked to JAAA)](https://ketjuresearch.com/register/files/open-market-factory-dejaaa/): The file listed deJAAA on Stellar without a reading of who controls it: deJAAA there is a Soroban contract, which Ketju could not read. This version adds that reading, so a client wallet holding deJAAA on Stellar now matches this file.
- 2026-09-30, [Matrixdock Gold (XAUm)](https://ketjuresearch.com/register/files/matrixdock-xaum/): The file listed XAUm on Stellar without a reading of who controls it: XAUm there is a Soroban contract, which Ketju could not read. This version adds that reading, so a client wallet holding XAUm on Stellar now matches this file.
- 2026-09-30, [STRATO Gold and Silver (GOLDST, SILVST)](https://ketjuresearch.com/register/files/strato-goldst-silvst/): The file said STRATO could not be read. It can: the STRATO node answers in public. This version adds the chain's own reading of GOLDST and SILVST, which confirms what the file said about the owner's powers, so a client wallet holding either token on STRATO now matches this file.

## What is on file

The count is by program, not by token: one file can cover dozens of tickers, or hundreds of properties. On 2026-09-30 the files covered 10 kinds of instrument.

| Kind of instrument | Programs |
| --- | --- |
| Notes and bonds | 20 |
| Gold, silver, and other commodities | 19 |
| Programs that mix kinds | 16 |
| Money-market funds | 10 |
| Stocks and shares | 10 |
| Treasury funds | 9 |
| Credit funds | 7 |
| Real estate | 2 |
| Payment stablecoins | 1 |
| ETFs | 1 |
| All programs | 95 |

## Who may hold it

**39 of the 95 programs are not offered to US persons.** That is the largest group, larger than the 35 open to US retail investors. An advisor who finds one of the 39 in a US client’s wallet is looking at a holding the issuer’s terms do not allow.

| Who may hold, in the issuer’s words | Programs |
| --- | --- |
| US retail investors | 35 |
| US accredited investors | 9 |
| US qualified purchasers | 12 |
| Not offered to US persons | 39 |

The accredited and qualified-purchaser floors are mostly funds, with minimums to match: [BlackRock USD Institutional Digital Liquidity Fund (BUIDL and the I Class, BUIDL-I)](https://ketjuresearch.com/register/files/blackrock-buidl/) at $5 million, [Franklin OnChain Institutional Liquidity Fund (iBENJI)](https://ketjuresearch.com/register/files/franklin-onchain-institutional/) at $5 million, [Tradable private-credit deal tokens](https://ketjuresearch.com/register/files/tradable-deal-tokens/) at $5 million, [Fidelity Treasury Digital Fund, OnChain class (FYOXX), FDIT token](https://ketjuresearch.com/register/files/fidelity-fdit/) at $1 million.

Retirement accounts narrow it further: 2 programs name IRAs as eligible, 4 exclude them in writing, and the rest do not say. [Every program, row by row](/tokenized-assets/who-may-hold/), and [what the documents say about IRAs](/tokenized-assets/iras/).

## What the holder owns

The files sort each program by whose record counts. **In 25 of 95 the documents do not say** whether the chain or the issuer’s register governs a dispute between them. 17 are notes or swaps that pay like the security and carry no rights in it. 6 are a custodian’s claim on a real share.

| What the holder owns | Programs |
| --- | --- |
| Not stated | 25 |
| Issuer direct | 24 |
| Third-party synthetic | 17 |
| Issuer indirect | 14 |
| Commodity receipt | 7 |
| Third-party custodial | 6 |
| DTC-tokenized (same CUSIP) | 1 |
| Issuer liability | 1 |

## Who can freeze it

Ketju reads the deployed contracts and every module they consult on transfer. 89 of the 95 programs have a readable contract, and 47 of those gate who may hold. Across the 248 contracts read, 131 (53%) carry both a freeze and a claw-back power; 22 carry neither. A power is the issuer’s ability, not evidence it has been used, and it is how an issuer obeys a court order.

**In 53 of the 89 readable programs, one private key decides whether a holder can be frozen, paused, or clawed back, or holds the admin key that grants that power.** 8 put that decision behind a multisig and 14 behind a contract, a timelock, or a program. In 10 a power exists but its holder was not read, and 4 show no freeze or claw-back power at all. Key holders last read on 2026-09-30. Every key, program by program, is on [the keys page](https://ketjuresearch.com/register/keys/).

## One ticker, 9 versions

19 listed stocks and ETFs are tokenized by two or more programs on file. **Only 2 of them have any version a US person may hold.** NVDA has the most, 9: six are notes that pay like the share, three give a claim on a real share a custodian holds. None is offered to US persons. They share a ticker and little else. [Every version, side by side.](https://ketjuresearch.com/register/stocks/nvda/)

## The first security used as collateral

On 2026-09-25 Aave v4 on Base began taking AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc, TSLAc as collateral for USDC loans. It is the first lending market where the collateral is a security, and it is the reason a file cannot stop at the token. A USDC supplier in that market depends on five links: the certificate, issued by an Abu Dhabi company that holds the shares as bare trustee at a US broker; a Chainlink price that runs 24/5 and holds over the weekend while interest accrues; a reserve that pauses for a split or a dividend; a liquidation that sells the certificate into the Base bid, not the share; and an offer made only to non-US persons. [The Aave v4 memo](https://ketjuresearch.com/register/aave-v4/) records the loan; [the Coinbase file](https://ketjuresearch.com/register/files/coinbase-tokenized-stock/) records the token.

## What is not there yet

- No program on file trades on a Tokenized Securities Venue under the SEC’s exemption of 2026-09-17 ([the tokenized-securities guide](/asset-classes/tokenized-securities/) sets out its conditions). Each file says so where it applies.
- The DTC path, the one that would put the listed share itself in a broker’s wallet under the same CUSIP, is on file with no contract address yet. The daily document watch is how its first contract will show up.
- 25 programs whose documents do not say whose record governs. Each file names the document read and the date; the answer waits on the issuer.

## Method

Counts are generated at build from the published eligibility files as they stood at the end of 2026-09-30, and this issue is recounted every day until the month closes. A file quotes the issuer’s document for each term and records the date the words were found; a key reading names the contract, the method called, and the block. A superseded file is archived with the date it stopped standing and the reason, never erased, so a past month counts the same on every rebuild. The files are public at [the Register](https://ketjuresearch.com/register/files/). Earlier and later issues: [the series](/research/tokenized-assets-on-file/).

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Published by Ketju Research (https://ketjuresearch.com). Educational analysis only; not legal, tax, compliance, or investment advice.
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