Filing for Tokenized ETF Shares Highlights Market Innovation

Core Insights - The trend of real-world asset (RWA) tokenization is expected to grow in 2026, particularly in the ETF marketplace, with F/m Investments filing an application with the SEC to record ownership of tokenized shares in their US Treasury 3 Month Bill ETF (TBIL) on a permissioned blockchain ledger [1][2] Group 1: Tokenization and ETF Innovation - Tokenization has transitioned from speculation to application, with F/m Investments potentially making the first SEC filing for tokenized shares of a registered investment company [2] - Tokenization involves converting tangible assets into digital tokens on a blockchain, offering benefits such as global access, increased liquidity, and faster transactions [3] - The TBIL filing will use the same CUSIP number for tokenized shares, ensuring owners retain the same rights and economic terms as traditional shares [4] Group 2: Regulatory Framework and Collaboration - The SEC filing was a collaborative effort with The RBB Fund, emphasizing governance-led innovation within the ETF framework [5] - The governance-first platform of RBB supports responsible innovation while adhering to established operational standards, allowing TBIL to function as a standard Rule 6c-11 Treasury ETF [6]