Circle USYC

'Only accessible to institutions outside the United States' (Reg S non-US persons), KYC/AML'd by the fund administrator

transfer/transferFrom call authority.canCall on sender and receiver; role 0 (investor) has the transfer capability. 127 addresses held role 0 on Ethereum at review.

Onchain supply × price (tracked chains only)

'USYC provides exposure to short duration US Treasuries and Reverse Repo on US Treasuries.' The issuer's price reports give only fund-level principal and interest; no holdings list or weights are public.

Fund incorporated 2023-03-17. Price reports rise steadily; no drop found.

Token issuer: Circle International Bermuda Limited (BMA regulated), LEI 254900HOS8Z6JFRRCO30

Entity ACTIVE, registration LAPSED

Assets held at BNY Mellon through prime broker Marex (2024 statement, before the Circle acquisition).

Fund Administrator: NAV Consulting

Auditor: Cohen and Company. rwa.xyz lists Valaston International instead.

Per the offering summary, 'the share register must follow the blockchain'

Subscriptions and redemptions are in USDC.

'USYC was last audited in March, 2024'; the report isn't published. Etherscan shows no audit for the current implementation.

Lists contract addresses only; no roles or powers.

Both hold unlimited minter allowances on the Ethereum token.

Read at block 26183723

Read at block 26183723

Read at block 26183723

Read at block 26183723

Read at block 26183723

Read at block 127400715

Read at block 127400715

Short-duration Treasuries and reverse repo, earning about the overnight rate.

Fund-level principal, interest and balance, posted by the fund-admin key. No holdings list or third-party attestation found.

GenericNextPriceAggregator (UUPS, 18 decimals), read by the Tellers. transmit() is callable only by PriceReporter 0x9fde…23d7, whose transmitCall is restricted to the fund admin (EOA 0xdbe0…800d, which sent the last report). Updates once per business day around 9am ET; none on weekends or US Federal holidays. The legacy SDYCAggregatorProxy 0x4c48…8b3e, owned by the same EOA, is the feed Usual reads.

latestRoundData returns the report's updatedAt.

Price set once per business day after the prime broker reports.

Onchain through the Teller (redeem(shares, receiver, account)) into USDC, 24/7/365

Role 0 has the redeem capability on Teller 0xeE35…30e6

'Subscriptions and redemptions settle atomically in real time (T+0)', while treasury liquidity lasts; beyond that, 'please contact us'

Teller redeems 24/7, atomically, while treasury liquidity lasts.

3 bps on redemptions above $1M a day.

Transfers check the Entitlements allowlist on both sides. Aave Horizon's aUSYC holds the custodian role.

totalAssets = min(treasury USDC 42.43M, allowance 38.30M); topped up by hand.

Top 10 wallets on Ethereum

$1M, $5M and $10M sells into USDC, against NAV

Morpho API, Aave pools onchain