Spiko US T-Bills Money Market Fund

USTBL is a token that represents, on the blockchain, shares of Spiko's US Treasury bill (T-Bill) money market fund. The fund is a short-term, variable net asset value (VNAV) money market fund domiciled in the European Union, approved by the French market authority AMF and subject to UCITS rules; it is structured as a sub-fund of Spiko SICAV. The fund is managed by Twenty First Capital.

The portfolio consists of US Treasury bills, repurchase agreements (repos) collateralized by these bills, and cash. CACEIS provides custody and fund administration services, with sub-custody of the Treasury bills at BNY. The fund's daily unit value is published on-chain via Chainlink, and interest is reflected as an increase in the share value. The shares are issued under the Ethereum token standard; the CoinGecko listing shows addresses on Ethereum, Base, Arbitrum, Polygon, Starknet and Etherlink.

USTBL is not a dollar stablecoin but a tokenized share of a regulated fund; its price changes with the unit value, and access to the fund is subject to Spiko's eligibility and identity verification requirements. The value on Lzzo.com is taken from DefiLlama's US dollar reference.