F/m Investments has filed for exemptive relief with the US Securities and Exchange Commission to tokenize shares of its F/m US Treasury 3 Month Bill ETF. The $18 billion asset manager wants to record ownership of the roughly $6 billion fund on a permissioned blockchain while maintaining its status as a standard 1940 Act ETF.
The firm said the tokenized shares would carry the same identifiers, rights, and economic terms as existing ETF shares, positioning blockchain records as an alternative ownership ledger rather than a new asset class. Oversight, custody, and reporting requirements would remain unchanged under existing securities regulations.
The filing reflects a broader institutional push toward tokenization of traditional financial products, following similar initiatives by firms such as Franklin Templeton. If approved, the structure could allow both traditional brokerages and token-aware platforms to access the same ETF shares through a single regulated framework.
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