Fidelity has passed 250 million dollars in net assets for its tokenised money market fund operating on the Ethereum blockchain.

According to RWAxyz data, the fund reached 266.2 million dollars on November 28 and grew about 15 percent in a month. The fund is a digital product that tokenises Fidelity's existing U.S. Treasury MMF and is officially named the Fidelity Digital Interest Token.

The token provides on-chain exposure to U.S. Treasuries and other short-term government-backed instruments. It is part of an effort to link traditional finance with digital finance through real-world asset blockchainisation. Fidelity launched the token in early September as it entered the tokenised asset market alongside BlackRock.

The largest tokenised fund in the RWA market is BlackRock's BUIDL, with total assets of 2.3 billion dollars. The Ethereum share of BUIDL assets fell about 60 percent last month as holdings spread across several chains.

RWAxyz said the overall on-chain RWA market now exceeds 36 billion dollars and has more than doubled since the start of the year. Private credit accounts for 18.7 billion dollars, more than half the total, while Treasuries and bonds are also being actively tokenised.

Ethereum remains the main chain for RWA tokenisation, with 11.6 billion dollars, or 63.7 percent of the market, operating on it. Blockchain oracle provider RedStone said in a recent report that the RWA market could reach 60 billion dollars next year.

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