Fidelity plans to launch a tokenized treasury fund "OnChain" on Ethereum

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2025-03-24 00:07:23

Odaily News Fidelity Investments has applied to the U.S. securities regulator to register its Ethereum-based U.S. Treasury fund “OnChain,” which is set to launch on May 30, aimed at tracking the trading of its $80 million Fidelity Treasury Digital Fund (FYHXX). Although OnChain’s records on the blockchain do not serve as the official ownership ledger, Fidelity will reconcile it daily. Currently, the blockchain government bond market has reached a scale of $4.78 billion, with BlackRock’s BUIDL fund leading at $1.46 billion. Fidelity stated that it may expand OnChain to other blockchains in the future. (Cointelegraph)

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