{"id":18734,"date":"2025-03-24T10:16:46","date_gmt":"2025-03-24T10:16:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=18734"},"modified":"2025-03-24T10:16:46","modified_gmt":"2025-03-24T10:16:46","slug":"fidelity-files-to-tokenize-u-s-dollar-money-market-fund-on-ethereum","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=18734","title":{"rendered":"Fidelity Files to Tokenize U.S. Dollar Money Market Fund on Ethereum"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">Fidelity Investments has <\/span><span data-preserver-spaces=\"true\">filed<\/span><span data-preserver-spaces=\"true\"> to register a tokenized version of its US dollar money market fund on Ethereum. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The move aligns the $5.8 trillion asset manager with industry giants like BlackRock and Franklin Templeton, both <\/span><span data-preserver-spaces=\"true\">of which are<\/span><span data-preserver-spaces=\"true\"> exploring real-world asset (RWA) tokenization.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">In a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/917286\/000113322825002995\/ftdf-efp15119_485apos.htm#useof\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">filing submitted<\/span><\/a><span data-preserver-spaces=\"true\"> to the US Securities and Exchange Commission (SEC) on 21 March 2025, Fidelity outlined plans for a new share class named \u201cOnChain,\u201d designed to track transactions of the Fidelity Treasury Digital Fund (FYHXX).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The fund currently holds approximately $80 million, primarily <\/span><span data-preserver-spaces=\"true\">in<\/span><span data-preserver-spaces=\"true\"> US Treasury bills.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-ai-crypto-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Fidelity\u2019s OnChain Fund Awaits Approval, Expected To Launch By May 30<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">While the OnChain structure is still pending regulatory approval, Fidelity anticipates it will go into effect <\/span><span data-preserver-spaces=\"true\">by 30 May 2025<\/span><span data-preserver-spaces=\"true\">. The initiative aims to provide investors with increased transparency and verifiable tracking of transactions via blockchain. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">However, the firm clarified that official ownership records will still be maintained using traditional book-entry systems.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Fidelity, after BlackRock, has picked Ethereum for its tokenized fund. <br \/>Why Ethereum?<\/p>\n<p>1. Security: secured by $120b<\/p>\n<p>2. Reputation: 10 years without any downtime or security breach<\/p>\n<p>3. Liquidity: Most stables<\/p>\n<p>4. Institution friendly: Hub of Tokenization, DeFi activities, with\u2026 <a href=\"https:\/\/t.co\/rl9yGA0V4c\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/rl9yGA0V4c<\/a><\/p>\n<p>\u2014 fabda.eth (@fabdarice) <a href=\"https:\/\/twitter.com\/fabdarice\/status\/1903819544717848838?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 23, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe secondary recording of the OnChain class on a blockchain will not represent the official record of ownership,\u201d Fidelity noted. \u201cThe transfer agent will reconcile blockchain transactions with the official records <\/span><span data-preserver-spaces=\"true\">on a daily basis<\/span><span data-preserver-spaces=\"true\">.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Importantly, Fidelity said that the underlying Treasury bills <\/span><span data-preserver-spaces=\"true\">themselves<\/span><span data-preserver-spaces=\"true\"> would not <\/span><span data-preserver-spaces=\"true\">be directly tokenized<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The filing also hints at broader ambitions, suggesting that OnChain could <\/span><span data-preserver-spaces=\"true\">be extended<\/span><span data-preserver-spaces=\"true\"> to other blockchains in the future. <\/span><span data-preserver-spaces=\"true\">This<\/span><span data-preserver-spaces=\"true\"> positions Fidelity as a growing player in the expanding market of tokenized RWAs, which now includes $4.78 billion worth of Treasury products, according to rwa.<\/span><span data-preserver-spaces=\"true\">xyz<\/span><span data-preserver-spaces=\"true\">. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Ethereum remains the dominant network, hosting over $3.3 billion of tokenized assets, followed by Stellar with $465.6 million.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">BlackRock\u2019s head of crypto, Robbie Mitchnick, recently reaffirmed Ethereum\u2019s dominance in the tokenization space, calling it the \u201cnatural default\u201d for traditional finance players. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Speaking at<\/span><span data-preserver-spaces=\"true\"> the Digital Asset Summit in New York, Mitchnick emphasized that Ethereum\u2019s decentralization, credibility, and security continue to make it the preferred choice for tokenizing RWAs.<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"Digital Asset Summit 2025 - NYC | Main Stage | Day 3\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/ZElYvaq0JTQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Crypto ETF Filings Surge Following Gensler\u2019s Departure<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Crypto ETF filings have surged following the resignation of<\/span><span data-preserver-spaces=\"true\"> SEC Chair Gary Gensler on Jan. 20<\/span><span data-preserver-spaces=\"true\">, signaling renewed optimism among asset managers.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Gensler, known for his cautious stance on crypto regulations,\u00a0stepped down\u00a0amid increasing pressure for greater regulatory clarity in the digital asset space.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">His departure has triggered a wave of new crypto ETF filings, including\u00a0Osprey Funds\u00a0and REX Shares, which filed for\u00a0meme coin ETFs covering Dogecoin (DOGE), Official Trump (TRUMP), and Bonk (BONK) on Jan. 21.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">Fidelity has filed to tokenize its $80 million U.S. money market fund on Ethereum via a new \u201cOnChain\u201d share class.<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">The tokenized fund is pending SEC approval and is expected to launch by May 30.<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">Ethereum remains the top choice for asset tokenization, with over $3.3 billion in tokenized assets.<\/span>    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/fidelity-files-to-tokenize-u-s-dollar-money-market-fund-on-ethereum\/\">Fidelity Files to Tokenize U.S. Dollar Money Market Fund on Ethereum<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Fidelity Investments has filed to register a tokenized version of its US dollar money market fund on Ethereum. The move aligns the $5.8 trillion asset manager with industry giants like BlackRock and Franklin Templeton, both of which are exploring real-world asset (RWA) tokenization. In a filing submitted to the US Securities and Exchange Commission (SEC) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-18734","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18734","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18734"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18734\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18734"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18734"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18734"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}