“Tokenized Money Market Funds Has Grown Sixfold in A Year to 4.8 Billion, Currently Led By Blackrock’s Product.”, – WRITE: www.coindesk.com
ACCORDING TO A FRIIDAY FILING to the US Securities and Exchange Commission (SEC), The Company Seeks to Register an “Onchain” Share Class of Itlity Treasury Digital Funds (Fyhxx) Fyhxx Holds Cash and Us Treasury Securities and Was Launched Late Last Year.
The onChain class of the Fund Currently Uses of the Ethereum (ETH) Network, and the FIRM May Expand to Other Blockchains in the Future, the Filing Said. The registration is subject to regulatory Approval, with the product expectioned to become Effective on May 30.
The Filing Happy As Global Banks and Asset Managers Increating Put Traditional Financial Instruments Such as Government BONDS Real-World Assets (Rwas). They do so to pursue operational and efficiment gains and faster, around-the-clack settlements.
Fidelity, With $ 5.8 Trillion in Assets Under Management, Is The Latest Traditional Financial Heavyweight Seneking to Enter the Fast-Growing Tokenized US Treasuries Space.
Blackrock (Blk), in Partnership with Digital Asset Firm Securitize, Launched A Similar Tokenized T-Bill Fund Last March Called Buidl and Has Become The Market Leader Will. Rwa.xyz Data Shows.
Franklin Templeton’s Fund, WHICH WAS The FIRST ON-CHAIN MONEY Market Product, Gathered $ 689 Million in Assets Since ITS 2021 DEBUT.
The Entire Tokenized Us Treasury Market is Currently Worth $ 4.77 Billion, Growing Almost 500% Over The Past Year, Per Rwa.xyz.
Fidelity is Also One of the Largest Issuers of Spot Bitcoin and Ether Exchange-Traded Funds (ETF) (ETF) in the US, with ITS $ 16.5 Billion FBTC and $ 780 Million Feth, Per Sosovalue Data.
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