WisdomTree announced that its tokenized money market fund, the WisdomTree Treasury Money Market Digital Fund (WTGXX), will now trade 24/7 with instant settlement. This regulatory shift required approvals from the SEC and FINRA, allowing the fund to function like digital cash and eliminating traditional settlement delays. The fund, valued at $730 million, is backed by U.S. Treasuries and offers a 3.5% yield, aiming to trade stably at $1 per share across multiple blockchains.
WisdomTree said on Tuesday it is enabling instant settlement for its tokenized money market fund, freeing the product from Wall Street’s traditional pace. The company stated this shift reduces “cash drag” and harnesses advantages innate to digital assets.
The arrangement enables round-the-clock trading for WTGXX and required exemptive relief from the SEC. On Tuesday, the regulator approved investors trading WTGXX’s shares at $1 intraday, regardless of its daily-determined net asset value.
This positions the fund as a form of digital cash that can be spent or traded instantly at any hour. WisdomTree described this functionality as “unprecedented,” unlocking efficiency and liquidity advantages native to digital assets.
The company’s broker-dealer subsidiary gained FINRA approval to engage in principal trading for WTGXX. This provides round-the-clock liquidity for the fund’s shares, which can be exchanged for stablecoins.
WisdomTree said its rollout continues dividend accrual for WTGXX, using blockchain timestamps to track holdings. This allows shareholders to earn yield even as tokens move between wallets.
WTGXX was valued at $730 million on Tuesday, according to RWA.xyz. It is issued across networks like Ethereum and Solana, backed by U.S. Treasuries, and aims to trade at a stable $1 value.
The SEC’s relief order stated its approval was “appropriate in the public interest.” This underscores the regulator’s growing comfort with mainstream financial products using blockchain.
In July, SEC Chair Paul Atkins said the agency was committed to modernizing rules enabling markets to move on-chain. WisdomTree Head of Digital Assets Will Peck indicated these approvals pave the way for that transition.
“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,” he said.
