Plume has introduced the nBND vault, also known as nFBND, which provides institutional investors with onchain access to the Fidelity Total Bond ETF (FBND). The product operates on Nest, a protocol designed by Plume to package real-world assets into tokens on its modular Layer-2 blockchain.
The vault accepts stablecoin deposits, allowing users to obtain programmable exposure to the underlying fund without using traditional brokerage accounts. Upon deposit, the system issues a receipt token that serves as proof of ownership for the FBND shares held within the vault.
The underlying Fidelity FBND fund was launched in October 2014 and currently manages approximately $28 billion in assets. It is an actively managed fund with an expense ratio of 0.36% and a yield of approximately 4.88%.
This initiative follows a partnership between Plume and ether.fi established in June 2026. The collaboration previously launched the Etherfi Liquid RWA vault with an initial deployment of $25 million, targeting a total volume of $100 million.
Plume launched its mainnet, Plume Genesis, in June 2025. In October 2025, the company secured registration as a transfer agent with the SEC to facilitate the support of tokenized securities.
