Hamilton Lane is launching its tokenized Senior Credit Opportunities Fund (HLSCOPE) on TRON, marking the first Securitize-issued asset to launch on the once-maligned blockchain.
Launched in 2023, HLSCOPE is a tokenized feeder fund that provides onchain exposure to Hamilton Lane’s Senior Credit Opportunities Fund (SCOPE), an evergreen private credit strategy that invests primarily in senior secured loans to top-tier borrowers in North America and Europe.
HLSCOPE currently lives on the Ethereum mainnet, and Polygon, Plume, and Optimism networks, with some cross-chain maneuverability via Wormhole, according to Securitize’s website. The onchain fund has about $4.28 million in assets under management, and is advertising a 5.87% annual return.
The move is part of a trend of crypto firms embracing Tron in the wake of the Securities and Exchange Commission dropping its case against the blockchain and its founder, Justin Sun. U.S. firms like Anchorage and Securitize have since announced a willingness to launch products on Tron, which previously carried a heightened regulatory risk.
"Tokenization reaches its full potential when institutional-grade assets can operate on blockchain networks built for global scale," Securitize CEO Carlos Domingo said. "Bringing HLSCOPE to TRON marks an important milestone not only because it is the first Securitize asset launching on the network, but because it expands access to private markets through infrastructure designed for continuous, global financial activity. This is another step toward a more connected and interoperable onchain financial system."
TRON is one of the most active blockchains by volume, driven primarily by its significant stablecoin activity. Tuesday’s announcement notes that the HLSCOPE launch on TRON will bring the fund in front of 383 million accounts.
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Notably, the SEC dropped its case against Sun and the Tron Foundation Limited and BitTorrent Foundation with prejudice, meaning it cannot be refiled. Rainberry Inc., the corporate parent for the BitTorrent network, which Sun acquired, agreed to pay a $10 million civil penalty for wash trading violations.
The SEC had sued Sun and those three firms in March 2023, alleging they had perpetrated unregistered securities offerings and sales of TRX and BTT, and accused them of market manipulation and paying celebrities to promote the tokens without proper disclosure.