Apollo Credit Strategy Tokenized with $50M Commitment from Grove

Grove, a credit infrastructure protocol within the Sky Ecosystem, has anchored a $50 million investment in a tokenized feeder fund that brings Apollo's diversified private credit strategy onchain. The Anemoy Tokenized Apollo Diversified Credit Fund (ACRDX), developed in collaboration with Centrifuge and Plume, packages Apollo's global credit exposures into tokenized shares available under the ticker nACRDX on Plume's Nest Credit vaults.

The initiative aims to provide blockchain investors with faster, transparent access to a strategy spanning corporate lending, asset-backed loans, and dislocated credit. ACRDX will serve as a feeder fund, tokenizing Apollo's existing Diversified Credit Fund for institutional investors via Plume's platform. Chronicle will supply oracle services, while Wormhole handles cross-chain connectivity.

Apollo, managing over $600 billion in assets, positions this launch as part of its broader push to bring institutional-grade strategies to onchain markets. Christine Moy, Apollo's Head of Digital Assets, emphasized the firm's commitment to expanding tokenized access to private markets.