Federated Hermes plans first onchain fund shares with Prometheum

Federated Hermes, 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. The partnership marks the firm's entry into Wall Street's tokenization push, using Prometheum's SEC-registered digital-asset securities platform to issue fund shares onchain.

No details were disclosed on which funds will be tokenized, issuance structure, or a launch timeline in the initial announcement.