F/m Investments has announced that it has applied to the U.S. Securities and Exchange Commission for an exemption to allow ownership of approximately $6 billion in shares of its flagship Treasury ETF, the F/m US Treasury 3 Month Bill ETF (TBIL), to be recorded on a permissioned blockchain. The asset management firm, which currently manages $18 billion in assets, stated that this application marks the first time an ETF issuer has sought a regulatory exemption to tokenize its Registered Investment Company (CUSIP) shares. Tokenized TBIL shares will retain their existing CUSIP numbers and will have the same rights, fees, voting rights, and economic terms as the current shares. If approved, the ETF will be able to support both traditional brokerage channels and digital-native platforms through a single share class.