Ethereum News Today: Fidelity’s Tokenized Fund Reveals Centralized Control Over Blockchain Assets

Fidelity has launched the Fidelity Digital Interest Token (FDIT), a blockchain-based money market fund on the Ethereum network, marking a significant step in the tokenization of real-world assets (RWAs). The fund, which represents one share of the Fidelity Treasury Digital Fund (FYOXX), currently holds over $200 million in assets and is backed by U.S. Treasury securities and cash. FDIT is structured as an ERC-20 token, enabling seamless on-chain transfers and real-time settlement, reducing dependency on intermediaries during ownership and transfer processes. The fund charges a 0.20% management fee and is custodied by Bank of New York Mellon. Notably, FDIT’s asset base is currently concentrated in two wallets, with one wallet holding the majority of the token supply [1].

This initiative aligns with Fidelity’s broader strategy to expand its presence in digital finance and compete with major players like BlackRock, whose BUIDL fund dominates the $7 billion tokenized Treasury securities market. The launch of FDIT follows Fidelity’s prior SEC filing seeking approval to tokenize a share class of its digital treasury fund. The move reflects growing industry interest in leveraging blockchain technology to enhance market efficiency, reduce settlement times, and lower costs [1].

The FDIT launch highlights broader trends in asset tokenization, which are being accelerated by firms like Ondo Finance, which recently introduced a tokenized equity platform for non-U.S. investors, offering access to over 100 U.S. stocks and ETFs. Ondo’s platform, now live on Ethereum, partners with BitGo, Ledger, and Chainlink to support its infrastructure and plans to expand to Solana and BNB Chain by the end of 2025. Ondo aims to tokenize over 1,000 assets by year-end, further underscoring the shift toward blockchain-based financial instruments [2].

Ethereum itself is reinforcing its role as a foundational blockchain for DeFi and RWAs, with its stablecoin supply reaching a record $165 billion. Despite a 44% decline in on-chain revenue for August 2025, the network continues to attract institutional interest, exemplified by Etherealize’s $40 million raise in September to promote tokenized asset adoption. Ethereum’s Dencun upgrade has enhanced scalability and reduced layer-2 transaction costs, further solidifying its position as a core infrastructure for decentralized finance [3].

Meanwhile, Best Wallet Token ($BEST) is emerging as a key utility token in the growing Web3 ecosystem. As the native token of Best Wallet, a non-custodial crypto wallet, $BEST offers reduced transaction fees, staking rewards, and early access to presales. The token is currently available for $0.025595 during a $15.5 million presale, with projections suggesting it could reach $0.072 by year-end. Best Wallet’s ecosystem includes features such as a token launchpad, a swap function leveraging DeFi rates, and plans for a crypto debit card, which could further increase demand for $BEST as blockchain-based financial tools become more mainstream [1].

The convergence of institutional-grade tokenized assets and user-friendly Web3 tools is reshaping global finance. Projects like Fidelity’s FDIT and Best Wallet’s $BEST illustrate the dual trajectory of the industry—where traditional financial infrastructure is being reimagined on blockchain rails while user accessibility is being enhanced through intuitive interfaces and rewards mechanisms. As Ethereum continues to serve as a backbone for stablecoins and tokenized equities, and platforms like Best Wallet simplify crypto adoption, the sector is moving closer to mainstream integration [1][1][2].

Source:

[1] Stripe and Paradigm Unveil Tempo Blockchain: Best Wallet Token to Soar (https://disruptafrica.com/2025/09/05/stripe-and-paradigm-unveil-tempo-blockchain-best-wallet-token-to-soar/)

[2] Ondo Finance Rolls Out Tokenized U.S. Stocks, ETFs as Equity Tokenization Ramps Up (https://www.coindesk.com/business/2025/09/03/ondo-finance-rolls-out-tokenized-u-s-stocks-etfs-as-equity-tokenization-ramps-up)

[3] Ethereum's Stablecoin Dominance Grows with $5B Weekly Inflow (https://finance.yahoo.com/news/ethereum-stablecoin-dominance-grows-5b-114905669.html)