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WisdomTree Securities gets approval to facilitate transactions in blockchain-enabled funds

2022/11/23 11:22

According to Seeking Alpha, ETF sponsor and asset manager WisdomTree said Tuesday that its subsidiary, WisdomTree Securities, has received membership approval from Financial Industry Regulatory Authority (FINRA) to operate as a broker-dealer and facilitate customer transactions in blockchain-enabled funds offered in the WisdomTree Prime mobile app. The approval comes after the Securities and Exchange Commission declared the effectiveness of the WisdomTree Short-Term Treasury Digital Fund (WTSY), WisdomTree's first blockchain-enabled fund that tracks the performance of U.S. Treasury securities. But unlike traditional mutual funds, a transfer agent holds a secondary record of WTSY shares on the blockchain, in a move that aims to close the gap between traditional finance (TradFi) and decentralized finance (DeFi).
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