WisdomTree Secures SEC Approval for Tokenized Treasury Fund Trading
WisdomTree has secured regulatory approval to enable round-the-clock trading and instant settlement for its tokenized Treasury money market fund, the WisdomTree Treasury Money Market Digital Fund (WTGXX). The asset manager received exemptive relief from the U.S. Securities and Exchange Commission and a separate clearance from FINRA for its broker-dealer subsidiary.
The new structure allows trades to execute against the broker-dealer's own inventory rather than directly with the fund, enabling WTGXX shares to change hands at a fixed $1 price on an intraday basis. Settlement happens instantly on blockchain rails, eliminating the cash drag associated with traditional T+1 or T+2 settlement windows.
The 24/7 liquidity model is initially available to institutional users through WisdomTree's Connect platform, with USDC serving as the settlement asset. Retail access is planned for a later phase.