Fidelity Launches FDIT Tokenized Fund

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Fidelity has launched FDIT, a tokenized share class of its Treasury fund on Ethereum, bringing U.S. Treasuries on-chain with 24/7 transferability and institutional-grade custody. The fund targets short-duration Treasuries and cash equivalents, offering a compliant, yield-focused RWA product. Ondo Finance is the largest investor, using FDIT as a reserve asset for OUSG to enhance liquidity and settlement. The move positions Fidelity alongside major asset managers embracing tokenized funds and could accelerate institutional adoption of on-chain treasuries.