$USDC Avalanche noted that the $500 M+ Fund seeks to offer a stable value of $1 per token and pays daily accrued dividends directly to investors’ wallets. The firm added that the Fund aims to invest 100% of its assets in cash, U.S. Treasury bills, and repurchase agreements.

Avalanche argued that the move would allow investors to earn a yield on potential otherwise-sidelined, non-yield-bearing fiat or stablecoins. The company also said that the fees associated with the share class on Avalanche are notably lower than some of the other blockchains on which the Fund is offered.