KETJU Research

← Eligibility files

Eligibility file · money market fund

Spiko US T-Bills and EU T-Bills Money Market Funds (USTBL, EUTBL)

What the client owns
Issuer direct. The on-chain record is the securityholder file; the holder is the registered owner.
Who may hold it
Not offered to US persons. First purchase minimum not stated.
Who can freeze or claw back
Spiko Finance (share register kept on chain under the EU DLT pilot regime); Twenty First Capital as management company: pause · clawback · mint · upgrade on Ethereum.
How it exits
Redeem with the fund at NAV by the daily cutoff. Daily orders at the next NAV; an instant-withdrawal service up to a per-customer limit at the NAV in force. Settles in USDC, EURC, USD, EUR.

Research and shelf status are on the memo: Spiko (EUTBL / USTBL) Research unresolved

Issuer
Spiko SICAV (AMF-authorized UCITS, registry SCV20240012); Twenty First Capital as management company; Spiko Finance as distributor
Registration
Other
Official record
Spiko Finance (share register kept on chain under the EU DLT pilot regime); Twenty First Capital as management company
Instruments
USTBL EUTBL
Chains
Ethereum, Arbitrum
Reviewed
2026-09-23 · v1
Next review
2027-03-23

Who may buy, hold, transfer, and redeem

The issuer’s own terms, restated. Where the documents say nothing, the row says so.

QuestionThe issuer’s terms
US personsNot permitted
Investor statusNot offered to US persons
Account typesindividual, entity
First purchase minimumNot stated
Who onboards the holderissuer
Voting rightsYes
Distributionsreinvested
SIPC coverage of the walletNo

Who can change the record

Powers read from the deployed contract and its verified source, not from marketing copy. A power recorded here is the issuer’s ability, not evidence it has been used.

ChainAllowlistFreezePauseClawbackMint authorityUpgradeable
EthereumNoNoYesYesrole-gated mintYes
ArbitrumNoNoYesYesrole-gated mintYes
EthereumNoNoYesYesrole-gated mintYes
ArbitrumNoNoYesYesrole-gated mintYes

Where it trades

VenueKind
Spiko app and APIissuer primary

No Tokenized Securities Venue lists this token. Secondary trading, if any, is outside the exemption.

How it exits

PathCutoffSettlementMinimumFeeSettles in
Redeem with the fund at NAV by the daily cutoffDaily orders at the next NAV; an instant-withdrawal service up to a per-customer limit at the NAV in forceUSDC, EURC, USD, EUR

What the monitor reads daily

Every control function in the table above, the token’s price against its stated NAV, and on-chain supply. A change reopens the file before any client action.

Sources

The file is public. The subscription checks it against each of your households and watches it daily. $49 per advisor per month, first 14 days free. Start the trial.