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Deployments · Libeara Delta · platform by Libeara

Delta Wellington Ultra Short Treasury On-Chain Fund (ULTRA)New

A Singapore US Treasury fund under FundBridge Capital's Delta Master Trust, sub-advised by Wellington, whose units are issued, transferred and redeemed as tokens on Libeara's Delta platform, with Standard Chartered as custodian. Launched on Ethereum in October 2024 for accredited and institutional investors, payable in USDC or fiat; Ondo provides intraday redemption technology and Zodia Markets distributes. Units now also sit on Solana and Arbitrum, and Theo's thBILL basket holds ULTRA.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (limited) since Oct 2024[1] — About $7 million on chain in October 2026. · Reviewed 13d ago

Assets
Fund interest[1]
Tokenised fund units investing in US Treasuries under one year duration
Networks
Ethereum Public, permissionless[1]
Solana Public, permissionless[3]
Arbitrum Public, permissionless[3]
Avalanche Public, permissionless[3]
Contract listed on RWA.xyz with zero supply in October 2026.
Use cases
Primary issuance[3]Fund subscription and redemption[3][1]
Jurisdictions
Singapore

Participants

Assets

Metrics

  • $7.01mAssets on chain · as of 17 Oct 2026[3]
    Distributed value via RWA.xyz; NAV about $1.06.
  • $5.12mValue on Solana · as of 17 Oct 2026 · on Solana[3]
  • $1.04mValue on Arbitrum · as of 17 Oct 2026 · on Arbitrum[3]
  • $845,153Value on Ethereum · as of 17 Oct 2026 · on Ethereum[3]
  • $135.34mFund interests sold since launch · as of 3 Nov 2025[6]
    Form D 'total amount sold' since the first sale on 2025-02-19: cumulative subscriptions into the fund, whose interests are issued as tokens; 7 investors had invested. Gross of redemptions, so it is not a balance.
  • 7 investorsInvestors in the offering · as of 3 Nov 2025[6]
    Form D count of investors who have already invested.

Timeline

  1. Happened 24 Jul 2025 · Participant joined · recorded 18 Oct 2026
    Theo's thBILL token, a basket of tokenised T-bill funds, launches holding ULTRA (inception date from RWA.xyz's thBILL listing; Theo's docs say thBILL was built with ULTRA).[5][4]
  2. Happened 30 Oct 2024 · Launch · recorded 18 Oct 2026
    Libeara, Wellington and FundBridge launch the tokenised ULTRA fund on Ethereum, with Arbitrum, Avalanche and Solana to follow.[1][2]

Sources

  1. [1]Libeara, Wellington, and FundBridge Capital Launch Tokenized U.S. Treasuries Fund — Libeara, Oct 2024. Accessed 18 Oct 2026. The page shows no date; Cointelegraph reported the launch on 30 Oct 2024..B
  2. [2]Libeara, FundBridge launch onchain US Treasurys fund — Cointelegraph, 30 Oct 2024. Accessed 18 Oct 2026.C
  3. [3]ULTRA asset page — RWA.xyz. Accessed 18 Oct 2026.A
  4. [4]Theo Short Duration US Treasury Fund (thBILL) asset page — RWA.xyz. Accessed 18 Oct 2026. Inception date 2025-07-24 and about $32m on Ethereum and HyperEVM in October 2026..C
  5. [5]thBILL | Theo Docs — Theo. Accessed 18 Oct 2026. Says thBILL was built with Wellington's ULTRA fund and Fidelity International's FILQ fund..B
  6. [6]Delta Wellington Ultra Short Treasury On-Chain Fund (Delta Master Trust): Form D notice of exempt offering (amendment) signed 2025-11-03 — Delta Wellington Ultra Short Treasury On-Chain Fund (Delta Master Trust) (SEC Form D/A), 3 Nov 2025. Accessed 26 Oct 2026.A
  7. [7]ULTRA asset page (service providers) — RWA.xyz. Accessed 28 Oct 2026.C

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