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Promote with Leviathan NewsFidelity Investments has introduced a new “OnChain” share class for its Fidelity Treasury Digital Fund, using the Ethereum blockchain to record beneficial ownership of shares. The fund, which appears under the ticker FYOXX, is a U.S. Treasury money market fund that invests at least 99.5% of its assets in cash and U.S. Treasury securities and aims to maintain a stable $1.00 NAV, in line with Rule 2a‑7 money market regulations. The Ethereum-based share class does not change the underlying conservative portfolio profile: the fund holds short‑dated Treasury securities and cash, focusing on capital preservation and liquidity rather than price appreciation. In this structure, official fund records remain in Fidelity’s traditional books and records systems, with blockchain data used as a parallel record that is reconciled daily against the primary ledger. Shares are represented as tokens on Ethereum but are fully integrated into existing regulatory and operational frameworks for U.S. registered money market funds, including standard KYC/AML and transfer agency processes. The launch is significant because it extends tokenization beyond private funds and experimental pilots into a regulated U.S. Treasury money market product from a major asset manager, illustrating how Ethereum can be used as infrastructure for institutional-grade fund administration while keeping all core controls, compliance, and custody within established financial rails.
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