Summary
- WisdomTree said it will launch 24/7 trading and real-time settlement for its tokenized money market fund (WTGXX).
- The move was enabled by SEC exemptive relief and FINRA approval, and it said USDC will be used as the initial settlement method.
- WisdomTree said it is introducing a blockchain-based continuous dividend feature to provide daily yield allocation based on token holding time, with potential expansion to retail investor channels in the future.
WisdomTree is introducing 24/7 trading and instant-settlement capabilities for its tokenized money market fund (MMF).
According to PR Newswire on the 24th, WisdomTree said it will launch round-the-clock trading and real-time settlement for the WisdomTree Treasury Money Market Digital Fund (WTGXX). This marks the first instance of registered tokenized fund shares—subject to the U.S. Investment Company Act of 1940—trading within the regulatory framework on a 24/7 instant-settlement basis.
The move was made possible through exemptive relief from the U.S. Securities and Exchange Commission (SEC) and approval from FINRA. A WisdomTree-affiliated broker-dealer will provide liquidity on a principal basis, with the stablecoin USDC used as the initial settlement method.
WisdomTree is also introducing a blockchain-based continuous dividend accrual feature, enabling daily yield distribution based on how long tokens are held. The feature will initially be available to institutional investors, with potential expansion to retail investor channels going forward.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
