cryptobriefing.com
WisdomTree, a New York-listed asset manager overseeing approximately $161 billion in client assets, said Tuesday it will soon enable around-the-clock trading and instant settlement for its US money market fund, the WisdomTree Treasury Money Market Digital Fund (WTGXX).
The fund can trade continuously against the USDC stablecoin through a dealer-principal model operated by the firm’s broker-dealer subsidiary.
The SEC granted exemptive relief to multiple WisdomTree entities, while FINRA approved the broker-dealer unit to act as principal for trades. The company described the coordinated approval as the most significant structural innovation for funds governed by the Investment Company Act of 1940 since exchange-traded funds were introduced.
“Instant settlement has been one of the true promises of blockchains and RWA tokenization,” said Will Peck, the firm’s Head of Digital Assets.
Unlike traditional mutual funds that settle on a next-day basis, the new structure allows investors to move into yield-generating assets immediately, removing delays that can reduce returns on idle cash.
Trades are executed bilaterally with the broker-dealer drawing from its own inventory rather than through an exchange, preserving the fund’s existing primary-market mechanics. Unaffiliated dealers may participate in the future.
The fund also introduced continuous dividend accrual, using blockchain timestamps to allocate daily income based on each wallet’s holding period, even when shares transfer between accounts intraday.
WTGXX targets a stable net asset value of one dollar by investing in short-term Treasury and government securities. As of February 23, the fund had accumulated $730 million in assets and carried an expense ratio of 0.25%.
Institutional clients will access the feature through WisdomTree Connect, with retail availability planned later through the firm’s Prime app, which permits investments starting at one dollar.