Odaily Planet Daily News Fidelity Investments applied to the US securities regulator to register its Ethereum-based US Treasury fund "OnChain", which is scheduled to be launched on May 30 to track its $80 million Fidelity Treasury Digital Fund (FYHXX) transactions. Although OnChain's records on the blockchain are not used as official ownership books, Fidelity will check them daily.
Currently, the blockchain treasury market is worth $4.78 billion, with BlackRock's BUIDL fund leading with $1.46 billion. Fidelity said it may expand OnChain to other blockchains in the future. (Cointelegraph)