Bybit has launched tokenized bond funds from asset managers PIMCO and CMBI on its RWA Earn platform, the exchange announced Tuesday. The move brings institutional-grade fixed-income products to the crypto exchange's users, marking another step in the push to tokenize real-world assets (RWAs) on-chain.
What's being offered
The two funds — one from PIMCO, one from CMBI — are structured as tokenized versions of their respective bond funds. Bybit users can subscribe to them through the RWA Earn interface, which already hosts other tokenized credit products. The exchange says the goal is to expand crypto adoption by giving traders access to traditional asset classes without leaving the platform.
Tokenized RWAs have become a crowded sector in 2026, with firms like BlackRock, Ondo Finance, and Franklin Templeton all issuing on-chain funds. Bybit's addition of PIMCO and CMBI products suggests the exchange is betting that its user base wants yield-bearing instruments backed by conventional bonds, not just volatile crypto tokens. The timing also aligns with a broader trend: regulators in several jurisdictions have been warming to tokenized securities, though the U.S. SEC has yet to issue a clear framework.
Bybit hasn't disclosed subscription volumes or whether the funds will be available to users outside certain jurisdictions. The exchange said it plans to add more RWA products in the coming months, but didn't name specific issuers. For now, the PIMCO and CMBI funds are live and accepting subscriptions.
