Fidelity has just been offered to SEC to launch a symbolic dollar box on ETHEREUM. The date of launch? May 30. If the organizers agree to this, the fund will be one of the first money market funds on the chain from the traditional asset manager of this size.
Company Registration A new category of Unshine arrow for Fidelity Treasury Digital Fund (FyHXX). It carries money and US treasury leaves, and it was broadcast late last year. Now they want to take it on a chain using Ethereum, with Blockchain as a transport factor. Other Blockchains can be followed.
This step does not come out of anywhere. The total US Treasury market is now sitting at $ 4.77 billion, an increase of approximately 500 % per year, according to RWA.XYZ.
Everyone tries to cram the traditional assets on Blockchand bars. It is not just noise this time. The file said that the stock category that relies on Ethereum in the box is awaiting approval and it will be valid on May 30, if nothing will take it out.
Fidelity targets a symbolic treasury with FYHXX based on Ethereum
It is clear that Fidelity, which runs 5.8 trillion dollars in assets, is clearly trying to catch up with a distinctive locker. Currently, Blackrock leads the race. Their box, Buidl, was launched last March in partnership with Sucuritize. She now has $ 1.5 billion of assets, for each RWA.XYZ data. Then there is Franklin Templeton, OG of distinctive money. The money market product on the series collected $ 689 million since its decrease in 2021.
The entire idea is simple: Put the financial products of the old school such as bonds, credit and money on Blockchain. Why? Faster leveling, non -stop trading, interruptions. This is the stadium. FyHXX joins that package, with ethereum as a rule. Blockchain becomes the new transport agent. Assets in the real world (RWAS) now get a symbol, and want to be sincere in.
The distinctive symbol is not new. But for years, he barely moved. Unlike Stablecoins, which spent like a dollar standing, most of the distinctive assets have never decreased. Only about 6,7530 wallets, most of which are institutions, actually carry symbolic origins that are not stablecoins. This is only 0.003 % of the total asset value in the world. According to OPIMAS Research, many companies that work on these projects are about to close. This is the slow extent.
“They now felt that they were able to do something and quickly the schedule a lot, while they were just watching,” Charlie, co -founder of RWA.XYZ said. So far, companies are accelerating.
The high symbol market is high with the return of institutions
American organizational chaos did not help. For years, the organizers warned banks not to stay away from anything encryption. Although the distinctive securities follow the same traditional rules, they still gather with encryption and are considered risky. As a result, large companies retreated. Most of them convert their focus into artificial intelligence instead. But now, after Donald Trump has returned and paid for profitable policies, the tone has changed quickly.
After launching the Blackrock’s Buidl box, the entire industry felt a shift. Everyone gave a cover to try again. It is clear that sincerity saw the green light and quickly his plan. It is not only. In October, a bank visa has launched a FIAT distinctive icons.
In November, Tether dropped its special code platform. In the same month, MasterCard has linked the distinctive symbol network with JPMorgan Chase to settle the B2B payments on Kinexys Blockchain. JPMorgan said Kinexys deals with about two billion dollars in daily transactions.
Raj Dhamodharan, EVP from Blockchain and digital assets in MasterCard, He said“This is a clear trend that will continue to develop and open many new business models. This trend is here to survive.”
This is not all. Boston Consulting Group believes that the distinguished fund assets can reach $ 600 billion by 2030. Today is about two billion dollars. This is a huge leap. Even the CFTC Futures Trading Committee is looking into new guidelines. They explore how to use distinctive assets as a guarantee in future trading.
Some argue that the distinctive symbol brings benefits such as more liquidity, faster trading, and reducing costs. Rob Krogman, chief digital official in Broadridge, said his company had already classified trillion dollars in re -category. “By the symbol of these assets, it provides natural efficiency,” he said. “It may be greater than the Internet. It mainly rethinks the way the markets operate.”
The industry is still concerned about bad assets and stupid risks
But there is no lack of criticism. Some believe in the industry that the distinctive symbol is out of control. Nathan German, CEO of Oondo Finance, said, said,
“You have ended with a lot of assets with weak prices that are sold to very advanced investors.” He added: “Outside the treasury, I think there is almost no value in the distinctive public papers. In fact, no one has done public papers well. Most of the projects in this field are unfortunately trying to distribute low -quality assets and poor price.”
Even the people are not sold. Carlos Domingo, CEO of Sucuritize, does not see value in symbolic real estate. Noel Achison, Crypto Macro now, don’t buy noise around the special stock icon as well. She said, “She feels just more like a solution looking for a problem.” Her point of view? It is not intended to sell the shares freely. The same thing with Picasso icon – you own it, but you cannot see it. So what is the point?
Some of the benefits exist though. Automation can reduce the risk of the opposite end. For example, put the assets in the guarantee that opens only when the goods are delivered. This is what Charlie mentioned. There is also the ability to upgrade payment systems. Capco analysts say that old systems are outdated. Added programming money can improve things, but it will take some time.
“There are a lot of opportunities, we do not disagree with that, but there is still a lot of work to do,” said Irvinas Janewisius, director of Cabo.
At the same time, sincerity is already a deep neck of encryption. Spot Bitcoin ETF (FBTC) has $ 16.5 billion, and ETH ETF (FTH) is about 780 million dollars, according to Sosovalue.
Cryptopolitan Academy: soon – a new way to earn a negative income with Defi in 2025. Learn more
