Abu Dhabi's Mubadala Capital has moved its Alternative Solutions Fund onto public blockchains, drawing roughly $75 million onchain. Coinbase backed the launch with a direct balance sheet stake, an unusual step for a publicly traded crypto firm.
Mubadala Capital, which oversees roughly $430 billion in assets managed, advised, or administered, has tokenized its Alternative Solutions Fund on public blockchains, and Coinbase has committed its own capital to it. As of July 23, 2026, the fund had drawn about $75 million onchain. A sovereign-linked manager of that size tokenizing a fund signals something beyond experimentation.
What Mubadala tokenized
The Alternative Solutions Fund is an evergreen strategy built around private equity, direct investments, and credit exposures, designed for lower volatility and steady cash yield. It now runs on Coinbase's Base network, along with Solana and Sui, while related share classes appear on Ethereum, Avalanche, Polygon, and Sei. Access stays limited to qualified institutional and accredited investors, with a minimum investment around $100,000.
UAE-based provider KAIO handles issuance and administration. Its platform now supports roughly $144 million in tokenized funds, with prior work tied to Hamilton Lane, Brevan Howard, Blackrock, and Laser Digital.
Coinbase commits its balance sheet
Coinbase is taking exposure to the fund directly, though the company did not disclose the size of the investment. A publicly traded exchange allocating corporate capital to a tokenized private markets product is still rare, since most tokenization activity so far has centered on distribution rather than treasury allocation. Brett Tejpaul, head of Coinbase Institutional, framed the move around programmability, arguing that regulated assets which become programmable can join a broader onchain economy.
How the deal came together
Mubadala Capital and KAIO first announced the partnership in December 2025 as an exploration into tokenized access for qualified investors. In April 2026, Tether led an $8 million funding round for KAIO, with Systemic Ventures and other backers joining. The fund itself went live around late June 2026, and its multi-chain rollout became public on July 23, 2026.
Why it matters
Traditional managers have been tokenizing funds for several years, with Blackrock, Franklin Templeton, Apollo, Fidelity, Janus Henderson, and Invesco all moving into tokenized treasuries, money market funds, or private credit. Citi projects tokenized securities could reach roughly $5.5 trillion by 2030, while broader estimates from BCG and Ripple run higher for the early 2030s. Whether other sovereign wealth managers follow Mubadala onto public blockchains will hinge on how the fund performs and how regulators respond.
Source: Bitcoin.com News
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