Fidelity files for Ethereum-based US Treasury fund ‘OnChain’

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Fidelity files for Ethereum-based US Treasury fund ‘OnChain’

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12:00am, Monday, March 24, 2025

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https://cointelegraph.com/news/fidelity-files-ethereum-based-us-treasury-fund-called-onchain

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Fidelity joins U.S. Treasury Tokenization Race with it’s money market fund

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The OnChain share class aims to provide investors transparency and verifiable tracking of share transactions of FYHXX, although Fidelity will maintain traditional book-entry records as the official ownership ledger.

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The RWA tokenization market for Treasury products is currently valued at $4.78 billion, led by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) at $1.46 billion, according to rwa.xyz.

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