Fidelity Investments has filed with the U.S. Securities and Exchange Commission (SEC) to launch a tokenized share class of its U.S. dollar money market fund.
If approved, the Fidelity Treasury Digital Fund (FYHXX) will operate on Ethereum, with plans to expand to other blockchains.
This move follows Franklin Templeton’s pioneering on-chain money market fund (FOBXX) in 2021, JPMorgan’s tokenized U.S. Treasury bond fund in 2023, and BlackRock’s BUIDL fund, which surpassed $1 billion in AUM in 2024.
With tokenized U.S. Treasury debt now valued at $4.80 billion, Fidelity’s entry signals the growing adoption of blockchain in traditional finance. If approved, FYHXX will go live on May 30, 2025, further accelerating financial tokenization. For more on blockchain finance, visit TheCoinInfo.
