# OpenEden appoints Bank of New York Mellon as custodian for $TBILL fund

**Published:** 2026-08-14T02:12:57.564Z  
**Topic:** OpenEden  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/bb4cb2d7-2cf2-4afb-b4cc-52477aa5771f

OpenEden selects BNY Mellon affiliates to manage and custody its tokenized US Treasury Bills fund, the first Moody’s‑rated tokenized Treasury fund, boosting

OpenEden announced on 13 August 2025 that affiliates of The Bank of New York Mellon Corporation will serve as investment manager and primary custodian for its $TBILL tokenized US Treasury Bills fund, a move that underscores growing institutional confidence in regulated on‑chain cash products【1】.  

| At a glance | |
|---|---|
| Announcement date | 13 August 2025 |
| Fund launch | 2023 |
| Moody’s rating | “A” (world’s first tokenized Treasury fund) |
| BNY assets under custody | US$55.8 trillion (as of 30 June 2025) |

## Strategic partnership details  
OpenEden’s $TBILL token gives investors exposure to short‑dated US Treasury Bills and overnight reverse repurchase agreements via a minted token. The fund, launched in 2023, has attracted “rapid and accelerating adoption,” reflecting heightened demand for regulated, institutional‑grade on‑chain cash solutions【3】. BNY Investments Dreyfus, with more than five decades of liquidity‑management experience, will act as sub‑manager, while BNY Mellon will provide primary custody, leveraging its infrastructure that oversees US$55.8 trillion of assets【1】.  

## Market implications  
The appointment positions the $TBILL fund as the first tokenized Treasury vehicle to earn an investment‑grade “A” rating from Moody’s, signaling a milestone for digital‑asset custodianship and potentially paving the way for broader institutional participation in tokenized real‑world assets. By pairing OpenEden’s compliance‑focused platform with BNY’s global scale and fiduciary expertise, the collaboration aims to set a new standard for trust and accessibility in the digital‑asset space【2】.  

## What to watch  
- **Custody onboarding milestones** – monitor any updates on BNY’s integration of the $TBILL underlying assets.  
- **Regulatory developments** – watch for further approvals or rating agency reviews that could affect the fund’s classification.  
- **Adoption metrics** – track token minting volume and on‑chain holdings to gauge investor uptake.  

The partnership highlights a tangible step toward bridging traditional finance and blockchain, but the extent to which it will accelerate institutional entry into tokenized Treasury products remains to be seen.

## Sources
1. Openeden — [BNY to Manage and Custody OpenEden’s TBILL Fund](https://openeden.com/news/openeden-bny-tokenized-us-treasury-fund/)
2. Assetservicingtimes — [OpenEden appoints Bank of New York - Asset Servicing Times](https://www.assetservicingtimes.com/assetservicesnews/custodyarticle.php?article_id=17041)
3. Bny — [OpenEden Selects BNY to Provide Investment Management and ...](https://www.bny.com/corporate/global/en/about-us/newsroom/company-news/openeden-selects-bny-to-provide-investment-management-and-custody-services-for-its-tokenized-us-treasury-bills-fund.html)

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Cite as: TrendWatcher, "OpenEden appoints Bank of New York Mellon as custodian for $TBILL fund", https://www.trendwatcher.in/article/bb4cb2d7-2cf2-4afb-b4cc-52477aa5771f