WisdomTree Secures SEC Approval for 9 More Blockchain-Enabled Funds

WisdomTree Secures SEC Approval for 9 More Blockchain-Enabled Funds

The Securities and Exchange Commission (SEC) has approved nine additional blockchain-enabled funds from WisdomTree (NYSE: WT). This approval aligns with WisdomTree’s overall goal of further integrating blockchain technology to enhance the investor experience. Announcing its SEC approval in a blog post, the $82 billion wealth management platform also explained that the nine digital funds offer different levels of exposure. This includes asset classes such as commodities, equities, and floating-rate government bonds.

WisdomTree Execs Weigh in on Latest SEC Funds Approval

Will Peck, Director of Digital Assets at WisdomTree, commented on the asset manager’s latest blockchain-focused initiative. He says, “These nine new digital funds demonstrate the curated experience we hope to offer WisdomTree Prime users, and all bring key assets to the evolving digital ecosystem.” Additionally, Peck added, “We believe that blockchain-enabled finance has the potential to enhance the investor experience through increased liquidity, transparency, and standardization, which we strive to do over time. The funds, aiming to bridge the gap between traditional and digital funding, will be launched on the WisdomTree mobile app Prime. 

The reports also indicate an expected start date for the first quarter of 2023. Jarett Lilien, President and COO of WisdomTree, sees the launch as a strategic move that harnesses the power of cryptocurrencies. According to Lilien, all financial assets would eventually intersect with the blockchain infrastructure, which is “a significant step in this direction.” He also pointed to the novelty of bringing large exposures, including fixed income and equities, to the digital world through tokenized assets. With the fund’s launch, Lilien sees WisdomTree in a leading role in the global development of financial services.

WisdomTree among Prominent Asset Managers Clamoring for Spot Bitcoin ETFs

The latest SEC approval for WisdomTree’s funds comes three months after the regulator approved the company’s first digital fund: the WisdomTree Short-Term Treasury Digital Fund (WTSYX). Like Grayscale Investments, WisdomTree has been pushing for the launch of an ETF since early 2021 that offers exposure to the Bitcoin (BTC) spot price. However, WisdomTree’s ETF filings have also been denied multiple times by the SEC. The commission repeatedly identified general concerns about fraud and market manipulation in the bitcoin trading markets. 

A spot bitcoin ETF has yet to be approved by the SEC. This fact is gaining ground despite repeated calls and progressive measures for comprehensive oversight of the digital currency space. Grayscale is currently in litigation with the SEC over the regulator’s refusal to allow the detection of Bitcoin ETFs. As part of his complaint against the SEC, Grayscale argued that the regulator practiced unfair prosecution of bitcoin futures ETFs.

WisdomTree

WisdomTree Investments is a New York-based ETF and ETP fund manager and sponsor. The company offers a wide range of ETPs, models, and solutions. WisdomTree manages over $81 billion in assets under management (AUM) worldwide as a leading wealth manager.

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