Fidelity Crosses $200M AUM With Ethereum-Backed Money Market Fund
The post Fidelity Crosses $200M AUM With Ethereum-Backed Money Market Fund appeared on BitcoinEthereumNews.com.
Fidelity, a prominent financial service firm, has recently achieved a milestone in terms of supply. In this respect, the Ethereum-based tokenized money market fund of Fidelity has exceeded the $200M mark in supply, indicating a significant growth in institutional confidence. As per the data from the crypto data and analytics provider, Token Terminal, the assets under management (AUM) of the fund jumped to $200M around the 1st of September. Since that time, these assets have maintained stability above the $200M spot, placing Fidelity among the top financial platforms managing nearly $6.4T in assets. Rising Institutional Interest Pushes Fidelity’s Ethereum Fund to $200M in AUM As Fidelity’s Ethereum-based money market fund’s AUM has jumped above $200M, it shows rising institutional confidence. This development elevates the platform’s position as a giant asset management platform. In this respect, its decision of Ethereum tokenization highlights its dominance as a ready platform to deliver institutional-level financial instruments. Milestone Underscores Ethereum’s Robust Compliance and Security Additionally, the resilient smart contract capabilities of Ethereum, its deep liquidity, and proven security standards are the key elements making it the top choice for entities like Fidelity. As a result of this, Fidelity can provide real-time settlement, improved investor access, and enhanced auditability while maintaining full regulatory compliance. Hence, while Ethereum continues to play the role of the tokenized TradFi sector’s backbone, Fidelity’s latest landmark achievement could indicate thorough institutional integration over the next months. Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to…
