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WisdomTree's nine new blockchain-enabled funds get SEC approval

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Indrani bose Follow

INDIA

Dec, 20 2022

Dec, 20 2022

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Nine new blockchain-enabled funds from WisdomTree which is an $82 billion asset under management gets approval from Securities and Exchange Commission (SEC).


The company stated that each of the nine digital funds will invest in traditional assets and provides exposure to various asset classes, including equities, commodities, and floating rate treasuries. In the first quarter of 2023, the funds should become available through the WisdomTree Prime mobile app.


These funds include the WisdomTree 500 Digital Fund (SPXUX) which was the company's first digital fund, and the WisdomTree Short-Duration Income Digital Fund (WTSIX), which was developed using WisdomTree's model portfolio capabilities. The WisdomTree Floating Rate Treasury Digital Fund (FLTTX) is especially noteworthy since WisdomTree has remained a pioneer in offering exposure to floating rate treasuries, with the WisdomTree Floating Rate Treasury Fund (USFR) generating over $10 billion in net inflows so far in 2022.


The WisdomTree Prime mobile application is expected to provide access to WisdomTree's digital funds, and WisdomTree Securities, Inc. will handle transactions. The WisdomTree Prime waiting list is now open.


In addition to creating the blockchain-native digital wallet WisdomTree Prime, the firm is also creating next-generation digital products and structures, such as digital funds and tokenized assets. 

In September, WisdomTree has been exploring digital funds and blockchain technology, especially in regard to trading and transaction settlement.


Since early 2021, the company has been pushing to introduce an exchange traded fund (ETF) that would provide exposure to the spot price of Bitcoin (BTC). The SEC has repeatedly rejected WidsomTree's applications, citing generic worries about fraud and market manipulation on BTC trading markets. Currently, a spot BTC ETF has not yet received SEC approval. The company provides a number of products that track the altcoin market, and in March it also introduced three cryptocurrency exchange-traded products (ETPs) supported by Solana, Cardano, and Polkadot.


About WisdomTree :

WisdomTree is a leading provider of exchange-traded products (ETPs), models, and solutions in the global financial industry. It helps financial professionals to provide better service to their clients and expand their companies by empowering investors to shape their own futures. In order to develop products that offer accessibility, transparency, and a better user experience, WisdomTree is making use of the most recent financial infrastructure.  


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Indrani bose

CBW - External Analyst

INDIA

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