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Tokenization News
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, whichoversees $168 billion in assets, received exemptive relief from the U.S. Securities and Exchange Commission and a separate clearance from FINRA for its broker-dealer subsidiary to conduct principal trading in the fund’s shares.
Under the new structure, trades execute against the broker-dealer’s own inventory rather than directly with the fund, allowing WTGXX shares to change hands at a fixed $1 price on an intraday basis, regardless of the fund’s end-of-day net asset value. Settlement happens instantly on blockchain rails, removing the cash drag associated with traditional T+1 or T+2 settlement windows that standard mutual funds operate under.
The 24/7 liquidity model will initially be available to institutional users through WisdomTree’s Connect platform, with USDC serving as the settlement asset. Retail access through the firm’s Prime app is planned for a later phase.
WisdomTree also introduced continuous dividend accrual, using blockchain timestamps to calculate how long each wallet holds WTGXX throughout the day. Shareholders earn yield even when the token transfers mid-session, rather than only at the close of a standard business day.
“This is a true innovation and improvement in the investor experience, and it demonstrates how blockchain can serve as a new set of rails for capital markets,” said Will Peck, WisdomTree’s head of digital assets. SEC Director of Investment Management Brian Daly said the relief “preserves the protections of a regulated money market fund while permitting retail investors intra-day liquidity.”
WTGXX is backed by short-term U.S. Treasuries and targets a $1 net asset value. The fund is issued across nine networks, including <a href="https://xpertsstudio.com/ethereum-loses-10-of-its-defi-market-share-as-rival-chains-close-in/” title=”Ethereum loses 10% of its DeFi market share as rival chains close in”>Ethereum and Solana, carries an annualized yield of 3.5%, and was valued at approximately $730 million as of Tuesday, according to RWA(dot)xyz. That compares to $112 million in February 2025, a roughly sixfold increase in 12 months.
The broader tokenized money market fund sector has expanded sharply since the GENIUS Act passed in July 2025, which prohibited interest-bearing stablecoins in the U.S. and positioned tokenized funds as one of the few regulated, yield-generating cash options on public blockchains. Total tokenized U.S. Treasury assets now exceed $10 billion, with BlackRock’s BUIDL fund leading at approximately $2.17 billion and Franklin Templeton’s FOBXX following at around $901 million.
WisdomTree’s approval marks the first time a registered tokenized mutual fund has been permitted to trade and settle around the clock under the Investment Company Act of 1940 using a dealer-principal model. The SEC’s Division of Investment Management describedthe decision as “appropriate in the public interest,” reflecting a broader agency posture toward tokenization of traditional capital markets instruments.
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Source: coinmarketcap.com