Fidelity’s $202M Tokenized Money Market Fund Hits Ethereum – Ondo Leads Massive Adoption Wave

Wall Street meets blockchain as Fidelity drops its tokenized money market fund directly onto Ethereum—bypassing traditional finance gatekeepers with pure digital efficiency.

Ondo Finance scoops up the entire $202 million allocation, signaling institutional demand isn't just speculative—it's operational.

Tokenization cuts settlement times from days to seconds, slashes intermediary fees, and finally gives treasury managers something to do besides renewing Bloomberg Terminal subscriptions.

This isn't a test—it's a full-scale deployment that redefines what 'liquid' means in global finance.

Traditional finance won't die quietly—but it's starting to look seriously outdated.

Tokenized Treasury boom

Tokenization of government debt, a crucial collateral asset in global markets, is part of a broader push to bring financial instruments, or real-world assets (RWA), onto blockchain rails. Global banks and asset managers like Fidelity Investments explore tokenization to cut settlement times, increase transparency and keep markets open around the clock.

The market of tokenized U.S. Treasuries is growing rapidly, more than tripling in the last year to $7.5 billion, RWA.xyz data shows. BlackRock and tokenization specialist Securitize dominates the market with the $2.4 billion BUIDL token, followed by offerings by Franklin Templeton and WisdomTree.

These tokens are increasingly used as a key piece of infrastructure for yield-earning strategies and collateral in the crypto economy.