Fidelity Joining the Tokenization Race: Launching an Ethereum Based Treasury Fund Investing in U.S. Treasury Bills, Competing with BlackRock’s BUIDL
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According to this tweet from AggrNews Fidelity is officially entering the tokenized assets competition launching a fund that invests in US Treasury Bills and of course built on Ethereum. Another TradFi giant embracing the best smart contract network out there. This is really big for Ethereum. It already has BlackRock BUIDL that has gained a lot of traction and now Fidelity, one of the largest asset managers in the world is trying to catch up in this competition. This news if confirmed to be true would validate Ethereum again as the go to network for institutional grade tokenization. This is big because it means more institutional adoption meaning in more money flows into Ethereum. It also shows the world that Ethereum is a great place to develop RWAs (Real World Assets). I don't know how we can be bearish on Ethereum with everything being built on Ethereum itself. It is a matter of time that this great project skyrockets again. Price is highly manipulated while whales keep buying from weak hands. It will come the day that they stop manipulating the price to buy cheap. Ethereum ecosystem keeps growing and it is going to be one of the biggest thing we have ever seen in our lives. Source: submitted by /u/kirtash93 |
