Securitize and Neuberger Berman Launch Multi-Chain High-Yield Fund

Securitize and Neuberger Berman have launched a tokenized fixed-income fund that targets high-yield bonds, collateralized loan obligations, and leveraged loans. The vehicle, called the Neuberger Securitize High Income Tokenized Fund (HINC), runs on four public blockchains: Avalanche, Ethereum, Solana, and Sui. It is open to accredited and qualified investors who clear the required checks, the companies said.

Securitize Capital acts as investment adviser. Neuberger Berman is subadvisor – its first time in that role for a tokenized fund. Various affiliates handle tokenization, administration, and operational services. The structure is more complex than earlier tokenized products, which mostly stuck to Treasury bills and money-market funds, according to the announcement.

The early wave of tokenized finance was limited to the safest instruments. That made sense: you do not stress-test new plumbing with volatile water pressure. The progression mirrors the ETF story. Exchange-traded funds started with simple index tracking in the 1990s, then expanded into commodities, leveraged strategies, and niche credit sectors over a decade. Tokenization appears to be following a similar arc, starting cautious then pushing into territory that seemed premature a few years ago.

High-yield bonds and leveraged loans carry real credit risk. Managing a portfolio of CLOs requires serious underwriting expertise that most blockchain-native projects have lacked. Neuberger Berman brings that expertise, which is why the partnership exists, the firms said.

The multi-chain approach is notable. Running HINC across four blockchains is not just hedging – it is an acknowledgment that no single chain has won the institutional finance race yet. Flexibility likely serves investors better than picking one ecosystem and hoping it dominates.