WisdomTree Launches 24/7 Trading for Tokenized Treasury Money Market Fund
WisdomTree launched 24/7 trading and instant settlement for its tokenized Treasury Money Market Fund (WTGXX) following SEC approval.Summary
US asset manager WisdomTree has enabled round-the-clock secondary trading and instant settlement for its WisdomTree Treasury Money Market Digital Fund (WTGXX), making it the first registered tokenized mutual fund to trade 24/7 under the Investment Company Act of 1940 using a dealer-principal model. This required exemptive relief from the SEC and approval from FINRA for its broker-dealer, WisdomTree Securities, to conduct principal trading. Liquidity will be provided via broker-dealer inventory, and USDC will be the settlement asset for these 24/7 transactions, which are initially available to institutional users via WisdomTree Connect. The fund invests in short-term US Treasurys, aiming for a $1 NAV, and now features continuous dividend accrual. This development occurs amid rapid growth in the tokenized money market fund sector, which has seen assets climb to nearly $9 billion, driven by major players like BlackRock and Franklin Templeton, especially following regulatory shifts like the passage of the GENIUS Act.
(Source：Cointelegraph)