• WisdomTree gets SEC approval for round-the-clock trading of tokenized MMF The approval allows WisdomTree’s tokenized Treasury money market fund to trade and settle around the clock within the US regulatory framework. • Cointelegraph in your social feed US-based asset manager WisdomTree has launched 24/7 trading and instant settlement for the WisdomTree Treasury Money Market Digital Fund (WTGXX), enabling round-the-clock secondary trading of a registered tokenized mutual fund within the US regulatory framework. • The companysaidit is the first time a registered tokenized mutual fund has been allowed to trade and settle around the clock under the Investment Company Act of 1940 using a dealer-principal model. • The structure allows shares to settle instantly, giving investors real-time access to yield-bearing US Treasurys exposure. • To implement the model, WisdomTree entities obtained exemptive relief from the US Securities and Exchange Commission (SEC). • Its affiliated broker-dealer, WisdomTree Securities, also received approval from the Financial Industry Regulatory Authority (FINRA), which oversees US broker-dealers, to conduct principal trading in the fund’s shares.

Article Summaries:

  • WisdomTree has received SEC approval to offer 24/7 trading and instant settlement for its Treasury Money Market Digital Fund (WTGXX), marking the first time a registered tokenized mutual fund can trade and settle around the clock under the Investment Company Act of 1940. The dealer‑principal model, enabled by exemptive relief from the SEC and FINRA approval for its broker‑dealer, allows shares to settle instantly, giving investors real‑time access to yield‑bearing U.S. Treasuries. Liquidity will come from broker‑dealer inventory rather than an exchange, and the service will initially be available to institutional clients via WisdomTree Connect, using USDC for settlement.

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