Fidelity plans to launch its “OnChain” share class on Ethereum by May 30, tokenizing its $80 million Treasury Digital Fund for better tracking.The “OnChain” class tracks transactions on the blockchain, offering investors clarity. Traditional records remain official and reconciled daily.With a $4.78 billion RWA market, Fidelity joins BlackRock and others, potentially intensifying competition in tokenized Treasury products.Fidelity’s $5.8 trillion empire hints at expanding “OnChain” to other blockchains, building on its $17 billion crypto funds.