- Fidelity’s Ethereum tokenized Treasury fund holds $203.6M in assets with only two current holders, RWA.xyz data shows.
- BlackRock leads tokenized Treasuries with $2B, while Franklin Templeton and WisdomTree push the market beyond $7B.
- McKinsey predicts tokenized securities could grow to $2T by 2030, reflecting rising institutional blockchain adoption.
Fidelity Asset Management has expanded into blockchain finance by launching a tokenized version of its Treasury money market fund. The product, known as the Fidelity Digital Interest Token (FDIT), is built on Ethereum and represents shares in the Fidelity Treasury Digital Fund (FYOXX).
According to data from RWA.xyz, the tokenized fund already carries assets valued at $203.6 million despite being launched only weeks ago. The investment strategy allocates 99.5% of assets into U.S. Treasury securities and cash, with a 0.20% management fee applied. Custody for the fund is handled by Bank of New York Mellon.
Early Adoption and Limited Participation
Although the fund’s assets have quickly crossed the $200 million mark, current activity remains narrow. Records show only two holders, one controlling around $1 million and the other managing nearly the entire balance.
The fund began operations in August and has yet to be publicly discussed by Fidelity representatives. This development follows Fidelity’s earlier filing with SEC seeking approval to introduce an on-chain share class to its Treasury product.
Growing Momentum for Tokenized Treasuries
The launch aligns with a broader trend among major asset managers testing blockchain rails for traditional securities. Over the past year, tokenized Treasury offerings have expanded rapidly, according to RWA.xyz. BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) has reached more than $2 billion in assets, making it the largest product in this segment.
Similarly, Franklin Templeton and WisdomTree have advanced their own tokenized Treasury initiatives, lifting the overall market above $7 billion. The Fidelity product now joins this group, further diversifying available options in the tokenized finance space.
Analysts Track Market Expansion
McKinsey analysts estimate tokenized securities could reach $2 trillion before 2030, indicating ongoing institutional engagement. However, participation in these early offerings is concentrated among a small number of investors.
With Fidelity entering the space, the competitive environment between large asset managers continues to develop. The fast rise of the Fidelity fund’s assets suggests strong institutional allocation at launch, though the concentration of holders shows its limited availability.
