Fidelity Investments has applied to sign up a blockchain-based US dollar money market fund, expected to take effect on May 30.

robot
Abstract generation in progress

According to Deep Tide TechFlow news on March 23, as reported by CoinDesk, Fidelity Investments has submitted an application to the SEC to add an "OnChain" share class to its Treasury Digital Fund (FYHXX), which will operate on the Ethereum network and is expected to take effect on May 30.

The current tokenized U.S. Treasury market size has reached $4.77 billion, growing nearly 500% in one year. BlackRock's BUIDL fund is leading the market, managing nearly $1.5 billion in assets. Franklin Templeton, as the first on-chain money market product, has attracted $689 million in assets.

Fidelity currently manages $5.8 trillion in assets and is one of the largest issuers of Bitcoin and Ethereum spot ETFs in the United States, with its FBTC and FETH sizes reaching $16.5 billion and $780 million, respectively.

View Original
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments