Fidelity Investments has quietly introduced a tokenized version of its Fidelity Treasury Digital Fund (FYOXX) on Ethereum, unveiling a new share class called the Fidelity Digital Interest Token (FDIT). Backed by short-term U.S. Treasury securities and money market instruments, the fund is designed to deliver a daily-accruing yield with no lockup requirements.
FDIT already manages more than $200 million in assets, with over 203 million tokens in circulation. Early adoption, however, remains highly concentrated, with only a handful of holders reported by rwa.xyz.
Fidelity has not yet made a public statement regarding the launch.
Fidelity enters on-chain Treasury market with FDIT launch
The debut of the Fidelity Digital Interest Token (FDIT) comes after Fidelity’s March filing with the U.S. Securities and Exchange Commission, where the firm requested approval to introduce an on-chain share class to its Treasury fund. That proposal outlined Ethereum as the initial network, with room to expand to other blockchains in the future.
With FDIT, Fidelity steps into the fast-growing tokenized Treasury market, currently led by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), which oversees more than $2.2 billion in assets. Other notable players include Ondo’s OUSG, Circle’s USYC, and Franklin Templeton’s BENJI, all of which have steadily gained traction in the space.
