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

Fidelity is looking to launch a tokenized version of its Fidelity Treasury Digital Fund on Ethereum on May 30 for greater transparency and tracking.

Fidelity Investments has filed to register a tokenized version of its US dollar money market fund on Ethereum — joining the likes of BlackRock and Franklin Templeton in the blockchain tokenization space.

Fidelity’s March 21 filing with the US securities regulator said “OnChain” would help track transactions of the Fidelity Treasury Digital Fund (FYHXX) — an $80 million fund consisting almost entirely of US Treasury bills.

While OnChain is pending regulatory approval, it is expected to take effect on May 30, Fidelity said.

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