Asset management firm F/m Investments sought SEC approval on Wednesday to tokenize shares of its flagship U.S. Treasury Bill exchange-traded fund.
Regulated Pathway For Treasury Bill ETFs
F/m Investments applied with the regulator to record ownership of tokenized shares of the US Treasury 3 Month Bill ETF (NASDAQ:TBIL) on a “permissioned” blockchain.
If the SEC approves the request, TBIL’s existing ETF shares would be represented on a blockchain under the same Committee on Uniform Securities Identification Procedures code. This would grant the same rights, fees, voting rights, and economic terms as current TBIL shares.
The firm stated that its approach ensures tokenized shares remain within the framework of the Investment Company Act of 1940, a law that applies to investment companies, such as mutual funds, ETFs and closed-end funds.
“Tokenization …