Fidelity's tokenized treasury fund, FDIT, launched on Ethereum, has surpassed $200 million in assets.

According to Odaily Planet Daily, Fidelity Asset Management has issued the Fidelity Digital Interest Token (FDIT) on the Ethereum network, representing a blockchain-based share of its Treasury Money Market Fund, which currently holds over $200 million in assets. The fund invests exclusively in U.S. Treasury bonds and cash, charges a 0.20% management fee, and is custodied by Bank of New York Mellon. FDIT currently has only two holders. This move puts Fidelity in direct competition with BlackRock's BUIDL fund, which dominates the $700 million tokenized Treasury bond market. (BeInCrypto)