Fidelity launches 'OnChain' Ethereum-tracked shares for Treasury money market fund

Fidelity is launching an Ethereum-based share class called “OnChain” for its Treasury money market fund, issuing shares that are recorded on the blockchain network, according to a new filing. Fidelity will maintain traditional book-entry records as the official ownership ledger, though ownership will also be recorded on Ethereum, with records reconciled daily.