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3w ago

Fidelity Quietly Launches $200 Million Tokenized Treasury Share Class on Ethereum

The move drops Fidelity into a rapidly growing tokenized Treasuries market led by Ethereum.

Ethereum Treasury shift: Fidelity gains, BlackRock's outflows, and more
fidelity
Stealth landing: fidelity quietly debuts ethereum based tokenized treasury fund
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Overview

  • The Fidelity Digital Interest Token (FDIT) represents a new on-chain share class of a Fidelity Treasury fund on Ethereum, according to on-chain data tracked by rwa.xyz.
  • More than 203 million FDIT tokens have been issued, with underlying short-duration Treasuries and money-market instruments designed to accrue yield daily with no lockups.
  • Early holdings appear concentrated among a small number of wallets based on rwa.xyz analytics.
  • Fidelity has not issued a public statement on the rollout, which follows its March SEC filing that specified Ethereum as the initial network.
  • The tokenized Treasuries market is reported at roughly $7.4 billion with Ethereum hosting about 70% of assets, and competitors include BlackRock’s BUIDL (over $2.2 billion AUM), Ondo’s OUSG, Circle’s USYC, and Franklin Templeton’s BENJI; recent data show BUIDL saw about $150 million in weekly outflows as FDIT gained assets.