WisdomTree’s Tokenized Fund Gains SEC Approval for Instant Settlement
- WisdomTree’s tokenized money market fund, WTGXX, will trade 24/7.
- The SEC and FINRA approved the arrangement, allowing instant cash-out for investors.
- WTGXX is valued at $730 million and offers a yield of 3.5% annually.
- Shares are backed by U.S. Treasuries and aim to maintain a stable value of $1.
- The fund operates across nine networks, including Ethereum and Solana.
WisdomTree’s initiative reduces settlement delays typical in traditional markets by leveraging blockchain technology for its tokenized money market fund, WTGXX. The SEC’s approval allows the fund to function as digital cash with instant trading capabilities.
This development highlights regulatory support for blockchain-based financial products, offering investors enhanced liquidity and efficiency through round-the-clock trading options. (Source)
