There is a hedge fund you could not buy into with 20 million dollars.
There is a hedge fund you could not buy into with 20 million dollars. Today I watched it go on sale through a token. That was my AMA with the Chirag Budhdeo CCO of an institutional fund tokenizer KAIO, and the access story is the real headline. Funds that used to demand a 2 to 3 million dollar minimum are now reachable from around 100 to 1,000 dollars. Brevan Howard's flagship macro fund, closed even to someone holding 20 million off-chain, is accessible only through the tokenized version. Access that private banks gatekept for decades is being unbundled in front of us. I went in to find the gap between the pitch and the reality. What I found instead was the rarest thing in this industry: an exec who told the truth about his own market. I asked the uncomfortable adoption question. Across this whole space you see tokenized "billions" that, when you open the chain, sit in a handful of wallets and never move. His answer was about the category, not a dodge about himself: a lot of those big numbers are two or three wallets bootstrapping, it looks inorganic, and institutional adoption is simply slower than the headlines pretend. He was just as straight about his own platform. The money on it today is foundations and treasuries. Real and institutional, but early. In a market that runs on inflated numbers, an exec said the numbers are not what they look like yet. That is worth more than any deck. Here is what I actually took from it, and what I tell every business and every allocator I work with. The technology and the legal rails for tokenizing real assets now work. They are boring and proven. What is scarce is not infrastructure. It is honest operators and assets that stand on their own. So when you evaluate any RWA project, read past the press release and count the real holders. The headline and the holder count are rarely the same story, anywhere. For a business sitting on a real, cash-producing asset, that is the opening. The plumbing is solved. The edge is the asset itself, and someone who can tell a real one from a dressed-up one before the money moves. If a number can be technically true and still tell you nothing, what are you actually checking before you believe it? #RWA #Tokenization #PrivateCredit #Investing #DueDiligence
➤ Tokenization is democratizing access to previously exclusive hedge funds, lowering minimum investment thresholds significantly. ➤ Despite technological advancements, institutional adoption of tokenized assets is slower than headlines suggest, with early adoption seen from foundations and treasuries. ➤ The article emphasizes the importance of honest operators and genuine assets over inflated numbers when evaluating RWA projects, highlighting the need for thorough due diligence.