ABUTF, issued by Archax Ltd, is a tokenized money market fund interest that represents an investor's beneficial holding in the underlying BlackRock ICS US Treasury Fund, with each token tracking the fund's net asset value [S1][S2].

Holders receive the economic exposure of the BlackRock ICS US Treasury Fund, a money market fund holding U.S. Treasury (UST) bills and related short-term debt instruments, providing the stability and yield characteristics associated with such funds [S1][S2]. The fund is not a guaranteed investment; principal can fluctuate and any loss is borne by the investor [S1]. Returns derive from the underlying short-term debt investments held within the fund [S2].

The issuing entity is Archax Ltd, registered in England and Wales, company number 11302455, and authorised and regulated by the Financial Conduct Authority (FCA), Firm Reference Number 838656, under the Financial Services and Markets Act 2000 [S3][S4][S5]. The token is a beneficial ownership token issued by Archax representing the investor's holding in the underlying fund [S1][S2]. Archax acts as both token issuer and regulated custodian, holding client assets under FCA custody permissions with CASS client asset segregation [S1][S6]. Tokens are offered to professional and institutional clients only [S1][S2].

Beneficial ownership tokens are available across multiple networks, including Ethereum, Polygon, Algorand, Hedera Hashgraph, Etherlink, XRPL, Arbitrum, Solana, Stellar and XDC [S2]. Archax's tokenisation engine mints and burns tokens and manages distributions via smart contracts, enabling near-instantaneous intraday transfer of fund shares alongside traditional subscription and redemption [S7][S1].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://archax.com/insights/archax-increases-tokenised-money-market-fund-offerings" },
    { id: "S2", url: "https://archax.com/insights/federated-hermes-partners-with-archax-to-offer-tokenised-ucits-money-market-funds" },
    { id: "S3", url: "https://archax.com/about-us" },
    { id: "S4", url: "https://archax.com/regulatory-permissions" },
    { id: "S5", url: "https://archax.com/businesses/regulated_exchange" },
    { id: "S6", url: "https://archax.com/businesses/regulated_exchange" },
    { id: "S7", url: "https://archax.com/businesses/tokenisation" },
  ]}
/>


# Asset transfer count methodology

## 1. Overview

Asset transfer count is defined as the number of user transactions that move assets between addresses. It is utilized to reflect how frequently assets are used for payments, trading, or other onchain activity. The metric is calculated daily for each tracked asset across all supported blockchains. By aggregating these transfer events, a comprehensive view of onchain utility and transactional velocity is provided.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token transfers
- **Other blockchain events**: Token transfers, withdrawals, and mint events across non-EVM chains (Solana, Aptos, Near, Polkadot Asset Hub, Stellar, and others)
- **Asset metadata**: Token addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract and count raw transfer events

- **Purpose**: Identify and count individual token transfer events on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, ERC-20 token transfers are parsed and counted. On Solana, SPL token transfers are parsed and counted. On Aptos, Near, and Ripple, token transfers and withdrawals are parsed and counted. On Stellar, classic token withdrawals and Soroban token transfers are aggregated. On Sui, token withdrawals and token mint events are aggregated. On Cardano, UTXO withdrawals and token mint events are aggregated. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed.
- **Key fields**: `token_address`: The unique identifier of the token contract or asset. `block_timestamp`: The timestamp of the transaction block.

### Component B: Daily aggregation and zero-filling

- **Purpose**: Aggregate the daily transfer counts per asset and ensure continuous time-series data.
- **Logic**: The extracted transfer counts are aggregated daily for each token address on its respective chain. For days where no transfer activity is recorded for a tracked asset, the time series is filled with zero values to ensure a continuous daily record.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The daily count of transfers per token on a specific chain.

### Component C: Final aggregation

- **Purpose**: Combine the daily transfer counts across all supported chains for each asset.
- **Logic**: The daily transfer counts from all individual chains are combined. Token addresses are mapped to unique asset identifiers using asset metadata. The final daily asset transfer count is then aggregated across all chains for each asset.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The total aggregated daily transfer count for the asset.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of transfer transactions involving the asset.

Asset transfer count

Tokenized funds

Archax is an FCA-regulated digital asset exchange, custodian, and broker that tokenizes traditional financial instruments. The platform enables institutional access to tokenized money market funds from BlackRock, Fidelity, and State Street on multiple blockchains.

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Real-world asset (RWA) issuers

Archax

BlackRock ICS US Treasury Fund (ABUTF) is a tokenized fund share issued by Archax and managed by BlackRock Asset Management Ireland Limited.

The fund is open-ended, invests in U.S. government debt and money market instruments, and charges a 0.1% annual management fee.

Its assets sit with J.P. Morgan SE, Dublin Branch.

Professional investors and institutions can subscribe and redeem in USD, with a USD 50,000 minimum and same- or next-business-day subscription settlement.

The issuer is a UCITS fund and is supervised by the Central Bank of Ireland.

ABUTF has been issued on public blockchains since February 2025 and is native to XDC Network and Hedera.

BlackRock ICS US Treasury FundABUTF