Plume Launches nBND to Track Fidelity's FBND ETF
Plume (PLUME)
Editor:
Eugene Serbin
Thecurrencyanalytics.com reports that Plume launched nBND on October 5, a token providing exposure to Fidelity’s Total Bond ETF (FBND). This $28 billion fund has not been tokenized, meaning its assets remain in traditional financial infrastructure rather than on the blockchain. Instead, Plume created a receipt token backed by a Nest vault that holds actual FBND shares through conventional channels.
Investors deposit into the vault to receive nBND, which tracks the fund's performance without requiring direct asset migration. The structure acts as a bridge, offering blockchain settlement and transparency while leaving the underlying ETF managed by Fidelity unchanged. This approach allows crypto investors to access bond exposure without navigating traditional brokerage accounts.
However, the $28 billion figure refers to the total size of Fidelity's fund, not the specific assets controlled by Plume's vault. The model introduces layered risks, including smart contract and custody vulnerabilities specific to the vault structure. No details have been released regarding early trading volume, vault inflows, or plans to expand the model to other assets. Plume’s role is essentially to wrap existing traditional exposure in a blockchain-compatible format.
How the market reacted
Whalio's own Binance spot order flow for PLUME, measured when this story was written up on 6 October 2026. Not the outlet's figures.
PLUME is trading at $0.01970 with a 24-hour spot volume of $4,540,213. Short-term buying pressure is fading, as the 1-hour buy ratio sits at 46.8% and the 4-hour ratio drops to 42.9%, compared to a healthier 54.4% over the last day. The volume delta reflects this shift, showing a net outflow of $6,880 in the last hour and $69,486 over four hours, against a positive $405,670 for the day. The volume delta measures the net difference between buy and sell volume, indicating whether more money is flowing in or out. A negative delta suggests that selling pressure is currently outweighing buying pressure in the immediate term.
The latest daily buy ratio of 55.9% sits at the 96th percentile of the last 322 days, against a median of 49.4% - among the strongest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for PLUME, averaged over the days leading up to the story.
Over the preceding week, PLUME saw net buying on all seven days, with a 7-day average buy ratio of 55.5%. The latest day’s buy ratio of 54.4% is 1.1 points below this weekly average, indicating a slight cooling in relative buying intensity. Volume for the day was 0.92 times the weekly average, suggesting trading activity remained near typical levels rather than spiking. The coin rose 7.8% over eight days, supported by a total volume delta of +$4,367,030. This represents an ordinary day for the coin, as the current metrics align closely with the established weekly trends.