Decentralized finance (DeFi) protocol Ethena has announced that it will invest its backup fund of $46 million in various tokenized funds and stablecoins. The protocol's Reserve Fund will allocate funds to BlackRock's and Securitize's tokenized fund BUIDL, Mountain's USDM token, Superstate's USTB, and Sky's new USDS stablecoin. This move aligns with a growing trend in the DeFi sector of investing treasury assets in tokens backed by real-world assets to earn independent yields. Ethena's decision was made after considering applications from 25 issuers and was approved by the Ethena Risk Committee. Future funds accrued in the Reserve Fund will be decided separately.



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