TLDR
- Flow Capital plans to offer tokenized shares of its $150 million fund through DigiFT.
- The Hong Kong manager aims to launch the onchain offering by the end of April.
- The firm wants to raise another $30 million in tokenized shares by year-end.
- Flow Capital launched the private credit fund in June 2025 and targets $250 million.
- The RWA market reached $58 billion on April 14, according to The Block data.
Hong Kong’s Flow Capital plans to bring its $150 million private credit fund onchain by the end of April. The move places the firm among early Asian managers using blockchain rails for private credit products. The company will offer tokenized shares through Singapore-based DigiFT Tech Pte. It also plans to raise another $30 million in tokenized shares by the end of 2026.
Flow Capital sets onchain plan for private credit fund
Flow Capital Partners is a Hong Kong-based alternative asset manager. It plans to make its master fund available onchain through DigiFT. Bloomberg reported that the launch is expected by month end. The fund was originally launched in June 2025.
Chief investment officer Jacky Tian said the firm wants to expand the fund further. According to the report, Flow Capital aims to grow the vehicle to $250 million by the end of 2026. The planned tokenized offering is part of that target. It also opens the fund to a wider set of eligible investors.
The company is seeking an extra $30 million in tokenized shares this year. That capital would add to the existing $150 million fund base. The structure uses blockchain-based shares instead of only traditional fund units. As a result, the fund joins a growing list of real-world assets moving onchain.
Tokenized funds gain traction across digital asset markets
Traditional finance firms have increased their use of tokenized products in the past year. Asset managers and banks have used blockchain to issue fund interests and other assets. These products are often linked to government debt, money-market exposure, or private credit. Flow Capital’s move adds private credit to that expanding field.
BlackRock’s tokenized Treasury fund, BUIDL, has become one of the best known examples. It has emerged as a major tokenized money-market product on public blockchain infrastructure. JPMorgan also launched its tokenized money-market fund, MONY, on Ethereum in December. It began with $100 million from JPMorgan before opening to outside investors.
The wider real-world asset market has also grown quickly. The Block’s data dashboard showed total RWA market capitalization at $58 billion on April 14. That figure was $21.5 billion a year earlier. On Ethereum, RWA market capitalization rose to $19.3 billion, up more than 200% year over year.
Analysts note access gains and liquidity concerns
Supporters of tokenization often point to broader access and faster settlement. Blockchain-based fund shares can be easier to distribute across markets. That may help managers reach investors who were harder to serve before. Flow Capital’s onchain fund launch fits that trend.
Still, some market watchers have warned that tokenization does not remove every risk. Private credit funds still hold assets that are less liquid than cash. Faster settlement can also create new expectations around redemptions. That issue remains a concern in private market structures.
Nic Puckrin, said tokenization helps with reach but not all fund risks. He said it “solves the distribution problem by opening up access to a much wider pool of investors.” He also said it does little to resolve the “liquidity mismatch problem.” Puckrin added that “the availability of instant settlement can create the illusion of liquidity.”
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
