富达投资悄悄地准备弥合传统金融和分散技术

这就是资产的未来意味着什么

Investment giant Fidelity Investments has quietly filed plans for a blockchain-based U.S. Treasury fund, aiming to launch by May 30 pending final approval from the U.S. Securities and Exchange Commission (SEC).

投资巨头富达投资已悄悄地为基于区块链的美国财政基金提交了计划，旨在在5月30日之前启动，待获得美国证券交易委员会（SEC）的最终批准。

While applying for approval in March, the firm now faces a final decision from the regulator on whether to proceed with the fund, which would mark a significant entry point into the rapidly growing market for tokenised assets.

在3月份申请批准时，该公司现在面临监管机构是否继续使用该基金的最终决定，这将标志着标记资产快速增长的市场的重要切入点。

This year alone, the market for tokenised assets is set to explode sixfold, reaching an impressive $4.8 billion, according to Global Optimum Data.

根据全球最佳数据，仅今年一年，就银行资产的市场将爆炸六倍，达到48亿美元。

While competitors like BlackRock (NYSE:) and Franklin Templeton have already taken the lead in specific segments of this burgeoning market, Fidelity’s entry could completely alter the competitive landscape.

虽然贝莱德（NYSE ：）和富兰克林·邓普顿（Franklin Templeton）等竞争对手已经在这个新兴市场的特定部分领先，但富达的进入可能会完全改变竞争环境。

For instance, BlackRock’s tokenised Treasury fund has already managed to accumulate $1.5 billion, highlighting the strong demand for faster and more transparent transactions in this asset class.

例如，贝莱克（Blackrock）的标记财政基金已经设法累积了15亿美元，并强调了该资产类别中对更快，更透明的交易的强劲需求。

Meanwhile, Franklin Templeton’s blockchain fund, launched in 2021, has attracted $689 million, showcasing investor confidence in this emerging investment vehicle.

同时，富兰克林·邓普顿（Franklin Templeton）的区块链基金于2021年成立，吸引了6.89亿美元，向投资者提供了对这款新兴投资工具的信心。

However, despite this initiative, Fidelity is venturing into the market for tokenised assets relatively late.

然而，尽管采取了这种主动性，但富达仍在相对较晚的标记资产进入市场。

Banks and asset managers are increasingly turning to blockchain technology to streamline their operations and improve efficiency.

银行和资产经理越来越多地转向区块链技术来简化其运营并提高效率。

Tokenisation, the process of converting assets into digital tokens on a blockchain network, offers several advantages, such as reducing settlement times from days to minutes and administrative costs.

将资产转换为区块链网络上的数字代币的过程具有多种优势，例如将和解时间从几天减少到几天和管理成本。

Fidelity’s proposed fund seeks to capitalize on these benefits, aiming to build on the success of existing tokenised Treasury products.

富达的拟议基金旨在利用这些利益，旨在以现有的令牌财政产品的成功为基础。

Fidelity’s proposed fund will tokenise shares of its existing Treasury Digital Fund (ticker: FYHXX) on the Ethereum blockchain, with each token representing ownership, which will be tracked on the blockchain for real-time transparency.

Fidelity的拟议基金将在以太坊区块链上以其现有的财政数字基金（股票：FYHXX）的股份来表达股票，每个代币代表所有权，这将在区块链上以实时透明度进行跟踪。

Crucially, the underlying Treasury bills themselves won’t be tokenised, only the shares of the fund investing in them.

至关重要的是，基本的财政账单本身不会被标记，只有投资于基金的股票。

Daily reconciliations will be performed to align the blockchain records with the traditional ledgers, ensuring the accuracy of both systems.

每天将进行对帐，以使区块链记录与传统分类帐保持一致，从而确保两个系统的准确性。

Moreover, Fidelity plans to expand to other blockchains in the future, likely in response to concerns over Ethereum’s potential scalability issues as the mainnet becomes congested during periods of high activity.

此外，Fidelity计划将来扩展到其他区块链，这可能是为了应对对以太坊潜在的可伸缩性问题的担忧，因为在高活动期间，主网变得拥挤。

In addition to expanding to other blockchains, Fidelity is also reportedly planning to offer a range of tokenised products in the future, expanding beyond Treasury investments.

除了扩展到其他区块链外，据报道，Fidelity还计划在将来提供一系列令牌产品，从而超越国库投资。

This move aligns with the broader industry trend towards institutional adoption of Ethereum for tokenising real-world assets (RWAs).

这一举动符合更广泛的行业趋势，用于将以太坊用于代币化现实世界中的资产（RWAS）的趋势。

Currently, Ethereum holds the largest share of the RWA market, managing over $3.3 billion in assets, according to Global Optimum Data.

根据全球最佳数据，目前，以太坊占RWA市场最大的份额，管理超过33亿美元的资产。

For instance, BlackRock’s crypto head, Robbie Mitchnick, recently stated that Ethereum is the “natural default” choice for TradFi firms due to its strong security and the size of its developer ecosystem, which provides support for building and deploying new applications.

例如，贝莱德的加密货币负责人罗比·米奇尼克（Robbie Mitchnick）最近表示，由于其强大的安全性和开发人员生态系统的规模，以太坊是Tradfi公司的“自然默认”选择，该系统为建立和部署新应用提供了支持。

Stellar is the second-largest blockchain, managing $465 million in RWA assets, but Ethereum’s edge is evident.

Stellar是第二大区块链，管理RWA资产4.65亿美元，但以太坊的优势很明显。

As TradFi firms continue to enter the RWA market, it remains to be seen which other blockchains will gain traction for this use case.

随着Tradfi公司继续进入RWA市场，对于此用例，其他区块链将获得哪些区块链的吸引力。

While BlackRock’s BUIDL fund has managed to take the lead in the tokenised Treasury market, considering the vast scale of Fidelity’s operations, it wouldn’t be surprising to see them quickly disrupt this lead.

尽管考虑到富达的业务范围广泛，贝莱德的Buidl基金已经设法在标记的财政市场中领先，但看到他们迅速破坏了这一领先优势并不奇怪。

For instance, they already manage $16.5 billion in spot bitcoin ETFs through their subsidiary Invictus, showcasing their experience and success in the crypto market.

例如，他们已经通过其子公司Invictus管理了165亿美元的现货比特币ETF，展示了他们在加密货币市场上的经验和成功。

On the other hand, Franklin Templeton’s early entry in 2021 gives them a head start, and their product has already managed to accumulate $689 million, showcasing the potential of this new asset class.

另一方面，富兰克林·邓普顿（Franklin Templeton）在2021年的早期入场券为他们提供了局面，他们的产品已经设法累积了6.89亿美元，展示了这种新资产类别的潜力。

Moreover, with several other players now entering the market, and more expected to join in the coming year, it's likely that we'll see some consolidation as products that aren't competitive simply won't survive.

此外，随着其他几名玩家现在进入市场，并且更期望在来年加入市场，我们可能会看到一些合并，因为不竞争的产品根本无法生存。

According to Global Optimum Data, tokenised U.S. Treasury products now total $4.77 billion, nearly a 500% increase since the start of 2023.

根据全球最佳数据，如今，美国财政产品总计47.7亿美元，自2023年初以来增长了近500％。

This rapid growth is a testament to the increasing demand for faster, more transparent, and efficient ways to invest in this asset class.

这种快速增长证明了对投资此资产类别的更快，更透明和有效的方式的需求不断增长。

As more players join the fray, the competition will become fiercer, and the winners will be those who can offer the best integration between legacy systems and blockchain technology, catering to the specific needs of both institutional and individual investors.

随着越来越多的球员参加比赛，比赛将变得更加激烈，获奖者将是那些可以在传统系统和区块链技术之间提供最佳整合的人，以满足机构和个人投资者的特定需求。