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WisdomTree said it is launching 24/7 trading and instant settlement for shares of its WisdomTree Treasury Money Market Digital Fund (WTGXX), calling it the first time registered tokenized mutual fund shares can trade and settle around the clock within the U.S. regulatory perimeter. The company said the feature is enabled through a dealer-principal liquidity model and follows SEC exemptive relief plus FINRA approval for its affiliated broker-dealer.
The announcement is a notable step for tokenized securities because it moves a regulated money market fund closer to crypto-style market hours and settlement speed, while keeping it inside the traditional mutual fund regulatory framework.
WisdomTree is bringing 24/7 liquidity to WTGXX
According to the Business Wire release, WisdomTree’s new setup allows WTGXX shares to trade and settle instantly 24/7, instead of relying on the standard T+1 delay common in traditional markets. The company says this reduces cash drag and lets investors move into yield-bearing assets in real time.
WisdomTree described the move as unprecedented for a fund governed by the Investment Company Act of 1940, and Reuters separately reported the SEC granted a special exemption to allow intraday trading in the tokenized money market fund.
SEC and FINRA approvals were central to the launch
WisdomTree said multiple group entities received SEC exemptive relief to support the structure. It also said WisdomTree Securities, its broker-dealer subsidiary, received FINRA approval to expand its activities to include principal trading of registered fund shares.
That matters because the 24/7 liquidity is not coming from an exchange order book. Instead, trades will happen bilaterally with WisdomTree Securities acting as principal, up to its balance sheet capacity.
Reuters also cited SEC Investment Management head Brian Daly, who said the relief preserves money market fund protections while allowing intraday liquidity for retail investors.
The product uses broker-dealer inventory and USDC settlement
WisdomTree said the approvals allow transactions to settle from broker-dealer inventory rather than directly with the fund, which helps preserve the fund’s existing primary-market structure while enabling round-the-clock execution. The initial participating broker-dealer will be WisdomTree Securities, though unaffiliated broker-dealers may participate later, subject to conditions.
For settlement, WisdomTree said USDC will be the first stablecoin supported for these trades. The company also said this dealer-based liquidity will initially be offered to institutional customers via WisdomTree Connect.
Continuous dividend accrual is part of the design
Alongside 24/7 trading, WisdomTree also introduced continuous dividend accrual for WTGXX. The company said this allocates daily income based on how long each verified wallet held tokens, using blockchain timestamps to track intraday transfers.
In practical terms, WisdomTree is trying to make tokenized fund shares function more like always-on financial primitives: tradable at any time, transferable wallet-to-wallet, and still able to accrue yield fairly even when shares move during the day. That interpretation follows directly from the features described in the release.
Institutional first, retail later
WisdomTree said the functionality will soon be available to institutional investors through WisdomTree Connect, and may later be extended to retail users through WisdomTree Prime and other channels. The company framed WTGXX as a tool already used by crypto-native institutions for on-chain treasury operations and yield access without moving offchain.
That rollout sequence suggests WisdomTree is prioritizing institutional treasury and settlement use cases first, before broader retail distribution. This is an inference based on the launch plan described in the release.
Why it matters for crypto
- This is a major step in bringing 24/7, blockchain-native trading mechanics into a regulated U.S. mutual fund structure.
- Instant settlement and USDC-based execution strengthen the “stablecoins as market plumbing” narrative.
- It gives institutions a more practical on-chain cash/yield instrument for treasury management and collateral movement.
- The broker-dealer inventory model could become a template for other tokenized fund products.
- If adoption grows, it may accelerate demand for tokenized cash-equivalent products beyond crypto-native users.
What to watch next
- The actual rollout timeline for institutional access through WisdomTree Connect.
- Whether unaffiliated broker-dealers join as liquidity providers after the initial launch.
- If WisdomTree expands stablecoin settlement options beyond USDC.
- Whether retail access is added through WisdomTree Prime and under what conditions.
- Follow-up SEC/FINRA actions that could open similar structures for other tokenized funds.
Source: WisdomTree Press Release