Federated Hermes joins Wall Street's tokenization push with plans for first onchain fund shares
60-second summary
Federated Hermes, the $911 billion Pittsburgh‑based asset manager, partners with token‑exchange platform Prometheum to issue blockchain‑based share classes of its funds that can be held in traditional brokerage accounts, marking its first on‑chain fund shares; this move signals growing institutional adoption of tokenization, potentially boosting liquidity, expanding investor access, and accelerating broader market digitization.
The $911 billion Pittsburgh-based asset manager is teaming up with Prometheum to bring blockchain-based share classes of its funds to traditional brokerage accounts.