Treasury & money marketActive

Delta Wellington Ultra Short Treasury On-Chain Fund

Value (USD)$6.99M2026-09-30

Wallet holders152026-09-30

Minimum investmentUSD 200,000

Yield—Unverified

Overview

ULTRA is a Singapore-domiciled sub-fund of the Delta Master Trust, an umbrella unit trust whose units are issued as tokens. It invests in US Treasury securities with effective duration under one year. FundBridge Capital manages the fund, Wellington Management is sub-adviser, Standard Chartered is custodian, and Libeara provides the tokenization platform.

US Treasury securities with effective duration under one year, plus repos and cash

Product structure

Lowest eligible investor type: Professional or accredited

US persons: Accepts US persons

Investor eligibility: Non-US institutional and professional investors and US accredited investors among eligible categories (rwa.xyz); KYC/AML and wallet whitelisting required

Classification of public offering terms, not a determination of your eligibility. Check the offering documents.

Legal wrapper: Singapore open-ended umbrella unit trust (Delta Master Trust sub-fund)
Domicile: Singapore
Regulatory status: Constituted under the Singapore Securities and Futures Act 2001, MAS oversight; manager FundBridge Capital holds MAS Capital Markets Services licence
Asset segregation: Unit trust structure with trustee and independent bank custodian (Standard Chartered) holding fund assets; trustee identity not verified
Custodian: Standard Chartered Bank (Singapore) Limited
Fund administrator: Vistra Alternative Investments (Singapore) Pte. Ltd.
Auditor: KPMG (per rwa.xyz)
Transfer agent: Libeara (Singapore) Pte. Ltd.
Tokenization agent: Libeara (Singapore) Pte. Ltd. (incubated by Standard Chartered's SC Ventures)
Proof of reserve: Unverified

Redemption & liquidity

Redemption terms: Daily redemptions on trading days, settlement within 1-2 business days in USDC or USD; minimum redemption 50,000 units
Secondary liquidity: Transfers only between whitelisted wallets; no public DEX market verified
Yield mechanism: NAV accrual (accumulating; NAV about USD 1.06 per unit)

Fees

Conflicting disclosures: rwa.xyz lists 0.15% p.a. management fee; FundBridge's March 2025 Arbitrum STEP 2 application lists 0.40% p.a. management fee, 0.025% trustee fee and a Libeara fee of up to 0.15% p.a. 0% subscription/redemption fees

On-chain information

EthereumArbitrumSolanaAvalanche

Token standard: ERC-20 with custom whitelisting (EVM); Token-2022 (Solana)
Transfer restrictions: Whitelist/KYC gating; minting, burning and whitelisting require manager approval via Fireblocks MPC

Contract addresses: unverified

Notes & material events

Value fell 79% over the 30 days to 2026-09-30 (rwa.xyz); 7-day APY 0.13%, 30-day APY 1.51% on that date. rwa.xyz lists inception as 2025-02-19 (launch announced 2024-10-30 on Ethereum). Smart contracts audited by NCC Group (a refreshed audit was pending as of March 2025). Avalanche deployment showed zero supply on 2026-09-30. The fund is used as a reserve asset by Theo's thBILL product. No public issuer product page found.

Revision history

No published revisions.

Request a correction ↗