{"id":19035,"date":"2025-03-25T17:47:49","date_gmt":"2025-03-25T17:47:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=19035"},"modified":"2025-03-25T17:47:49","modified_gmt":"2025-03-25T17:47:49","slug":"all-you-need-to-know-about-fidelitys-new-onchain-share-class","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=19035","title":{"rendered":"All You Need to Know About Fidelity\u2019s New \u2018OnChain\u2019 Share Class"},"content":{"rendered":"
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Fidelity Investments<\/a> recently announced plans to launch its \u201cOnChain\u201d share class, a tokenized version of its Fidelity Treasury Digital Fund (FYHXX), on the Ethereum blockchain. The company filed with the US Securities and Exchange Commission (SEC) on March 21, 2025, aiming for a May 30 launch, pending approval. This move places Fidelity alongside major players like BlackRock and Franklin Templeton in the growing world of blockchain tokenization.<\/p>\n

The Fidelity Treasury Digital Fund manages $80 million, mostly in U.S. Treasury bills. The \u201cOnChain\u201d share class will not tokenize the Treasury bills themselves. Instead, it will track transactions of the fund on Ethereum, offering investors greater transparency and verifiability. Fidelity will still keep traditional book-entry records as the official ownership ledger. A transfer agent will reconcile blockchain transactions with these records daily.<\/p>\n

Cynthia Lo Bessette, Head of Fidelity Digital Asset Management, shared her excitement about the project. \u201cWe see promise in tokenization,\u201d she told Cointelegraph. \u201cIt can transform financial services by improving efficiency and capital access across markets.\u201d She also hinted at real-world benefits, like using tokenized assets as collateral to streamline operations.<\/p>\n

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$ETH<\/a> TO 17K <\/p>\n

\u2013 @Fidelity<\/a> launch digital US dollars on $ETH<\/a> by May 30th
\u2013 120,000 $ETH<\/a> bought by ancient whales over the past 4 days
\u2013 @BlackRock<\/a> head of digital assets ‘Robbie Mitchnick’ believes negativity surrounding $ETH<\/a> is “overdone”
\u2013 $DRB<\/a> on @base<\/a> paying America’s debt pic.twitter.com\/CdV4qfpjE0<\/a><\/p>\n

\u2014 degenwolf.base.eth (@MrDegenWolf) March 24, 2025<\/a><\/p>\n<\/blockquote>\n