Fidelity, the third largest asset management firm in the world with nearly $5 trillion in assets under management (AUM), has filed to register an onchain offering of its Treasury Digital Fund (FYHXX) with the Securities and Exchange Commission (SEC). The application looks to establish a tokenized representation of its FYHXX fund on the Ethereum blockchain and, in the future, “may use other public blockchain networks” subject to internal criteria. Tokenized FYHXX will launch on May 30, assuming regulatory approval, and the money market fund will likely invest “at least 80%” of its assets in U.S. Treasury securities, and 99.5% of total assets in the fund will be in the form of these securities and cash. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io