Federated Hermes to Launch First On-chain Fund Share Classes via Blockchain

Key Facts

1Federated Hermes, with $911 billion in AUM, plans to launch blockchain-based share classes of its funds.

2The firm is partnering with Prometheum to bring on-chain shares to traditional brokerage accounts.

Federated Hermes plans to launch blockchain-based share classes of its funds, marking its entry into the tokenized investment market. CoinDesk reported that the firm, which manages $911 billion in assets, is partnering with Prometheum to make these on-chain shares available through traditional brokerage accounts. The initiative aims to integrate blockchain technology into traditional brokerage infrastructure to modernize asset issuance and settlement.

FHI closed at $56.03 on October 12, 2026, which also represented the day's low for the stock. The move toward asset tokenization reflects a broader trend among major financial institutions, with Prometheum set to provide the necessary custody, clearing, and settlement services for the new digital share classes.