Blockchain Backed US Treasury Fund Launches

Fidelity Files for Ethereum-Based US Treasury Fund Called Onchain

Fidelity Investments, one of the largest financial services companies in the world, has filed with the US Securities and Exchange Commission (SEC) to launch a new fund that will track the performance of the US Treasury market using Ethereum-based tokens.

The fund, called Onchain, will be an actively managed investment vehicle that will hold a basket of Ethereum-based tokens that mirror the performance of the US Treasury market. The fund's investment strategy will be designed to provide investors with exposure to the US Treasury market, which is typically dominated by traditional fiat-based instruments.

Onchain will be the first fund of its kind to track the US Treasury market using Ethereum-based tokens. The fund's portfolio will be comprised of a basket of Ethereum-based tokens that are designed to replicate the performance of the US Treasury market, including government bonds and notes.

The fund's investment strategy will be managed by a team of experienced investment professionals at Fidelity, who will use a combination of traditional and alternative data sources to inform their investment decisions.

Fidelity's decision to launch Onchain is seen as a significant development in the evolution of the cryptocurrency and blockchain space. It marks the first time that a major financial institution has filed to launch a fund that will track the performance of the US Treasury market using Ethereum-based tokens.

The filing of Onchain with the SEC marks the latest in a series of developments that have seen the cryptocurrency and blockchain space gain increasing recognition from mainstream financial institutions. In recent years, a number of major financial institutions have begun to explore the potential of blockchain technology and cryptocurrencies, and have started to offer a range of blockchain-based products and services.

Onchain is expected to be a popular investment option for Fidelity's clients, particularly those who are looking for a new way to gain exposure to the US Treasury market. The fund's launch is also expected to be a significant development for the cryptocurrency and blockchain space, and could help to attract new investors to the market.