Fidelity Seeks SEC Approval for OnChain Stock Class in Digital Fund

According to PANews, Fidelity has filed a registration with the U.S. Securities and Exchange Commission (SEC) for an "OnChain" stock class within its tokenized dollar money market fund, Fidelity Treasury Digital Fund (FYHXX). Launched at the end of last year, this fund holds cash and U.S. Treasury securities. The filing reveals that the "OnChain" class currently utilizes the Ethereum network, with potential plans to expand to other blockchains in the future. The registration is pending regulatory approval and is expected to take effect on May 30, 2025.