Asset Class · Platinum Group Metals · Technology Metal
Ruthenium —
Investment Profile
Fractional ownership of verified ruthenium inventories, backed 1:1 by audited physical assets and held under U.S.-compliant custodial structures.
01 · Asset Thesis
Why tokenized Ruthenium
Ruthenium is a rare platinum group metal with a demand profile increasingly shaped by advanced technology sectors. Its applications span data storage (hard disk drive manufacturing), electronics, chemical catalysis, and — critically — the emerging green hydrogen economy, where ruthenium-based catalysts play a key role in water electrolysis for clean hydrogen production. As one of the least-discussed PGMs, ruthenium offers asymmetric exposure to structural technology and energy transition themes.
Green hydrogen catalyst applications — ruthenium-based electrocatalysts are among the most efficient for PEM water electrolysis, a critical clean energy technology
Data storage demand — heat-assisted magnetic recording (HAMR) hard drive technology incorporates ruthenium, supporting ongoing digital infrastructure growth
Supply produced almost exclusively as a byproduct of platinum group metal mining — primary supply cannot be scaled independently of host metal production
Relatively low institutional awareness creates potential for significant price discovery asymmetry as hydrogen economy demand develops
02 · Issuance Model
1:1 asset-backed issuance
Each Fraxxiom ruthenium token represents a direct fractional interest in a specific quantity of verified physical ruthenium. Tokens are issued only after the corresponding inventory has been legally sourced, independently assayed, and deposited under certified custody.
No pre-minting — token creation requires prior confirmed physical custody of underlying ruthenium inventory
No synthetic exposure — token holders hold a direct legal fractional interest in physical metal
No over-issuance — token supply is mathematically limited by verified physical inventory records
Independent assay certification and provenance documentation provided for each inventory lot
03 · Custody Framework
Institutional-grade custody
Physical ruthenium inventories are held under segregated custodial accounts within certified facilities operating under U.S. regulatory and security standards, with protocols appropriate to platinum group metal handling.
Segregated accounts — ruthenium inventory is ring-fenced and cannot be commingled
Custody partners with PGM-handling experience and secure transport infrastructure
Insurance coverage aligned with industry standards for platinum group metals
Custody provider identity and vault location disclosed during institutional due diligence process
04 · Verification & Audit
Continuous verification
Asset existence, ownership, and custody events are periodically verified through independent third-party audits, with all material events recorded on-chain for tamper-evident traceability.
Third-party assay audits conducted at each custody transfer event by qualified independent verifiers
Proof of reserves framework linking each issued token to a specific, verified physical inventory record
On-chain ownership registry providing transparent, immutable record of token ownership and custody history
Full source-to-custody audit trail including refinery certificates and transport chain-of-custody documentation
05 · Risk Considerations
Key risk considerations
Ruthenium is a thinly traded, specialized industrial metal. Prospective investors should carefully assess the following risk factors.
Material Risk Factors
- Commodity price volatility — ruthenium prices are driven by specialized industrial demand cycles and may exhibit significant short-term fluctuations
- Technology adoption risk — hydrogen electrolysis demand thesis is contingent on the pace of green hydrogen infrastructure deployment
- Market liquidity — the ruthenium market is significantly thinner than major precious metals, potentially affecting exit execution under adverse conditions
- Supply concentration — approximately 80% of supply originates from South Africa as a byproduct of platinum and palladium mining
- Demand substitution risk — alternative catalysts or materials could reduce ruthenium consumption in key applications
- Regulatory changes affecting digital securities or tokenized commodity instruments in applicable jurisdictions
Investors should evaluate ruthenium exposure within a diversified portfolio and consistent with their own risk parameters. This asset is appropriate for investors with specialist knowledge of industrial metals markets.
06 · Investor Access
Structured investor access
Investor Eligibility Verification
KYC/AML review in accordance with applicable regulatory requirements, including identity and source-of-funds documentation.
Accredited or Qualified Investor Confirmation
Access restricted to accredited investors (U.S.) or equivalent qualified institutional buyers.
Private Onboarding Session
Dedicated review of ruthenium market dynamics, Fraxxiom's custody structure, legal framework, and allocation mechanics.
Allocation Execution
Investment executed through approved channels following completion of due diligence and subscription.
07 · Redemption
Redemption options
Physical delivery of ruthenium metal subject to minimum thresholds and applicable logistics requirements
Cash settlement equivalent at prevailing market reference price, subject to jurisdictional requirements
No publicly disclosed mandatory lock-up — redemption governed by the applicable custody and legal framework
Full redemption terms and thresholds disclosed during due diligence
Evaluate Ruthenium as an institutional allocation
Request access to the full institutional overview including custody documentation, legal structure, and allocation mechanics.