PANews reported on January 22 that, according to Bloomberg, F/m Investments has applied to the U.S. Securities and Exchange Commission (SEC) for an exemption to record a portion of its $6.3 billion 3-month U.S. Treasury ETF (ticker symbol TBIL) on a blockchain, serving as a testing ground for the tokenization of traditional assets. This application will not alter the ETF's holdings structure or trading methods; it will only involve on-chain registration of shares in the back-end, ensuring consistency with existing shares in terms of fees, rights, and information disclosure. If approved, this case will be a key test of the integration of blockchain technology into the U.S. asset management system.