Asset Management Firm F/m Investments Applies to Tokenize $6 Billion Treasury ETF

Odaily News F/m Investments announced it has filed for an exemption with the U.S. Securities and Exchange Commission to allow its flagship Treasury ETF, the F/m US Treasury 3 Month Bill ETF (TBIL), to record ownership of approximately $6 billion worth of shares on a permissioned blockchain. The asset management firm, which currently manages $18 billion in assets, stated that this application marks the first time an ETF issuer has sought a regulatory exemption to tokenize shares of a registered investment company. The tokenized TBIL shares will retain the existing CUSIP number and possess the same rights, fees, voting rights, and economic terms as the current shares. If approved, the ETF will be able to support both traditional brokerage channels and digital-native platforms through a single share class.