Fidelity Investments has launched the FDIT, a tokenized share class of its Treasury fund on Ethereum, marking its entry into the fast-growing $7.4 billion tokenized Treasuries market.
Abstract
- Fidelity’s FDIT holds over $200 million in short-term U.S. Treasuries and money-market property, with 203M tokens already issued.
- Early adoption stays concentrated amongst a small variety of holders, whereas Fidelity has not issued a public assertion.
- Fidelity’s FDIT joins BlackRock’s BUIDL, Ondo’s OUSG, Circle’s USYC, and Franklin’s BENJI within the increasing tokenized Treasuries house.
Fidelity Investments has quietly launched a tokenized model of the Fidelity Treasury Digital Fund (FYOXX) on Ethereum (ETH), introducing a brand new share class referred to as the Fidelity Digital Curiosity Token (FDIT). The fund’s underlying property encompass short-duration U.S. Treasury securities and money-market devices, structured to offer a daily-accruing yield with no lockup durations.
FDIT at the moment holds over $200 million in property, with greater than 203 million tokens excellent. Early participation seems concentrated, with simply a few holders, based on rwa.xyz data.
Fidelity has not but publicly commented on the fund’s rollout.
FDIT launch brings Fidelity into on-chain treasury market
The FDIT launch follows Fidelity’s March filing with the U.S. Securities and Change Fee, the place the agency sought approval so as to add an on-chain share class to its Treasury fund. On the time, the proposal detailed the usage of the Ethereum community, with potential for future growth to different blockchain platforms.
By launching FDIT, Fidelity enters a rising marketplace for tokenized Treasury merchandise, an area at the moment dominated by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which manages over $2.2 billion in property. Alongside BUIDL, choices akin to Ondo’s OUSG, Circle’s USYC, and Franklin Templeton’s BENJI have steadily grown their share of the market.
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