F/m Investments Seeks SEC Nod for Tokenized TBIL ETF Shares
F/m Investments filed an exemptive application with the SEC to tokenize shares of its U.S. Treasury 3 Month Bill ETF (TBIL) on a permissioned blockchain. The MOVE aims to integrate distributed ledger technology while maintaining compliance with the Investment Company Act of 1940.
The proposal preserves TBIL's existing CUSIP, fee structure, and shareholder rights. Settlement WOULD occur on-chain without altering the fund's operational mechanics—a hybrid approach that could set precedent for ETF tokenization under current regulations.
NYSE and asset managers are increasingly exploring blockchain infrastructure. Approval would signal regulatory openness to compliant on-chain financial instruments, potentially accelerating institutional adoption of tokenized assets.
