WisdomTree was granted relief by the Securities and Exchange Commission to launch 24/7 trading and instant settlement capabilities for its tokenized Treasury Money Market Digital Fund (WTGXX) in February this year. The asset manager said this structural innovation via regulatory relief has not been seen since the introduction of exchange-traded funds.

Will Peck, head of digital assets at WisdomTree, told Markets Media that this marks the first time registered tokenized mutual fund shares have been permitted to trade and instantly settle 24/7 within the U.S. regulatory perimeter via a dealer-principal liquidity model.

“This capability is unprecedented for a fund governed by the Investment Company Act of 1940, representing a key advancement in tokenized security markets compared to traditional markets,” said WisdomTree in a statement. “Instant settlement lets investors move into yield-bearing assets in real time, eliminating T+1 delays of traditional markets, reducing cash drag and unlocking the efficiency and liquidity advantages of tokenized assets.”

Peck explained that before the SEC granted exemptive relief, token holders could only transfer them between authorized wallets on a peer-to-peer basis.

Peck said: “WisdomTree could not make a market or facilitate any exchange of value.”

Obtaining the relief took approximately two years as Peck said this was a “really critical” step. As part of the relief WisdomTree Securities received regulatory approval from FINRA to expand its broker-dealer activities to include principal trading of registered fund shares. WisdomTree Securities can now enable 24/7 liquidity in tokenized money market fund shares with settlement facilitated by stablecoins, initially USDC. This means that investors can exchange their token in the money market fund for $1 in stablecoin 24/7, or vice versa, on a bilateral basis.

“The broker dealer is able to do this from product inventory it holds,” added Peck. “It allows for intraday trading of a regulated tokenized money market fund and that has never happened before.”

The initial participating broker-dealer will be WisdomTree Securities, but over time other broker-dealers unaffiliated with WisdomTree may be added, subject to applicable conditions.

This functionality its initially available to institutional investors via WisdomTree Connect. It may be available to retail investors via WisdomTree Prime and other channels in the summer, according to Peck.

Peck said the functionality is useful for stablecoin reserve management, treasury management for corporates, and collateral mobility in financial services.

For example, a business may want to make cross border payments 24/7, which is possible onchain using stablecoins. However, the business will not want to hold stablecoins as they do not pay yield. Now, the business can hold funds in WTGXX and earn interest, but can convert tokens into stablecoins 24/7 for when it needs to make payments by using WisdomTree’s broker dealer. Peck described this functionality as the first material example within the US regulatory perimeter that meets the tokenization promise of instant settlement.

“We are thinking about more programmable onchain operations and more variable net asset value products,” said Peck. “This is the start of other exposures that can brought onchain and be traded in the secondary market to look more like ETFs.”

Peck stressed that WisdomTree does not believe that tokenized money market funds will be a substitute for ETFs, but is trying to open up a new user experience for a different community of investors than the firm previously reached.

“People onchain with wallets deserve the same experience as ETF investors,” added Peck. “We are interested in tokenized ETFs as a concept, and that is something we are working on.”

Metrics

Bryan Edmiston, chief financial officer at WisdomTree, said on the fourth quarter 2025 results call: “In digital assets, we moved from infrastructure build-out to early monetization.”

Tokenized assets under management reached $770m by the end of 2025, up from essentially zero at the end of the previous year, which Edmiston said reflects real adoption and growing client trust. WisdomTree Connect grew from four onboarded institutions to 29 in 2025 and the number of wallets holding WisdomTree assets rose to more than 3,500.

“The infrastructure is built,” added Edmiston. ”The products are live and the focus is now on scaling.”

Peck added on the call that although many traditional firms are entering the tokenization space, WisdomTree is in active conversations with them around making its products and services available through their platforms.

“We actually have the capacity to serve retail, which a lot of the other firms in the tokenization space just do not have,” added Peck. “They’ve been focused on offshore exempt products that have really high minimums, some north of $1m.”

From 2026 Peck expects a lot of the wallets holding WisdomTree’s tokenized products to come through other channels and platforms. He argued this gives WisdomTree an opportunity to scale “really quickly.”

Jonathan Steinberg, founder and chief executive of WisdomTree, said on the results call that if he was to go out on a limb and make a prediction, he would not be surprised if WTGXX became the largest fund within asset manager over the next three years,

Steinberg said: “Europe, models, tokenized assets and private markets, these aren’t experiments anymore. They are real businesses contributing real flows and creating real value for shareholders.”

For February 2026, WisdomTree reported record global exchange-traded product and tokenized assets under management of $159bn, up 11% year-on-year.

In the results presentation WisdomTree said the early growth curve of tokenized real world assets exceeds the early ETF adoption in the 1990s and the firm is looking to expand the adoption of its total tokenized product lineup further including gold, equities, and more.

Amundi Business Intelligence has estimated that tokenized fund assets will grow to $30bn by 2030 on a conservative basis, assuming an ongoing compound annual growth rate of 25% per year. If there is more uptake from traditional distributors, Amundi Business Intelligence said assets could grow to $120bn in the same time period.

However, beyond 2030 Amundi believes it is realistic that tokenized funds could exceed $1 trillion as the endgame of tokenization will be a convergence between the onchain and offchain world.