Fund launches, registrations and market figures reflect public announcements and filings as of the dates stated against each. Two claims in wide circulation are deliberately stated more carefully here: BRSRV is the first tokenizedpurpose-built GENIUS reserve fund, not the first such fund — State Street and Fidelity launched in June — and the $8.6B attached to Securitize’s adviser registration is the size of the curated on-chain vault market it will advise into, not its own assets. Nothing here is an assessment of any fund, issuer or intermediary’s financial condition, a credit view, or a recommendation regarding any security, token or stablecoin. Research and education, not investment advice.