Odaily Odaily that WisdomTree has announced the launch of 24/7 trading and instant settlement for its WisdomTree Treasury Money Market Digital Fund (WTGXX). This marks the first time that registered tokenized mutual fund units have been approved for 24/7 trading and instant settlement through a dealer-depositor liquidity model within the US regulatory framework.
The rollout of this feature requires coordination of multiple regulatory approvals, and several entities under WisdomTree have received exemptions from the U.S. Securities and Exchange Commission (SEC). Furthermore, WisdomTree Securities, WisdomTree's proprietary trading subsidiary, has received approval from the Financial Industry Regulatory Authority (FINRA) to expand its proprietary trading business to include proprietary trading of registered fund units. Initially, this will provide 24/7 liquidity for tokenized money market fund units and will use stablecoins for settlement. (Businesswire)
