Energy Substantiation says institutions can now trade its WTI crude oil token (WTIC) on LMAX Digital, giving a commodity-linked digital asset another route into institutional markets.
The issuer announced the availability Thursday, Oct. 15. It said WTIC’s trading ecosystem also includes Uniswap and BingX. The announcement did not give a start time, trading pair or trading volume.
The company describes each unit as representing the volume of one barrel of West Texas Intermediate (WTI) crude, backed one-to-one through Volumetric Energy Receipts. Legal terms give holders a proportional stake in pooled oil, rather than ownership rights to an identified barrel. High Ridge Trust holds the receipts, while the supplier keeps the oil in its physical possession under a bailee arrangement, according to the issuer’s documents.
An undated attestation from High Ridge Trust reported 1,150 barrels and 6,670 MMBTU. Energy Substantiation’s transparency page displayed “Loading…” for both the outstanding token count and backed-barrel total, so the attested holdings could not be reconciled with token supply.
The terms charge 0.10% to mint and 0.25% to redeem, with the redemption fee doubling in the two business days before futures expiry. Cash redemptions have an expected T+4 settlement. Physical delivery requires holders to meet qualification rules and other conditions.
Energy Substantiation presents the arrangement as a way for energy suppliers to turn inventory into working capital alongside existing financing. Tokenholders bear the stated transaction fees. LMAX Digital Managing Director Chris Knight said WTIC could give institutions another way to respond when macroeconomic news breaks while conventional markets are closed, including on weekends.
The issuer says no U.S. regulator has issued a final decision concerning WTIC. It also discloses that the token is not registered with the Securities and Exchange Commission, the Commodity Futures Trading Commission or any state securities regulator. The company warns that holders could lose their full purchase amount and that secondary-market trading may have limited depth.
