WisdomTree has announced the expansion of its institutional tokenized funds solution to five more blockchains.
The asset management firm, which initially launched its WisdomTree Connect on Ethereum (ETH), is now looking to increase its presence across the rapidly expanding tokenization market with deployment on four more blockchain networks.
WisdomTree Connect went live in September 2024.
As well as Ethereum, the asset manager’s suite of 13 tokenized funds will now be available on Arbitrum, Avalanche, Base and Optimism.
It’s a milestone that could see WisdomTree increase its assets under management significantly.
Currently, WisdomTree Connect offers access to tokenized money market funds, asset allocation funds, equity index funds and asset allocation funds. The company’s money market fund, the WisdomTree Government Money Market Digital Fund, with ticker symbol WTGXX, allows eligible investors access to a product that provides exposure to short-term government securities.
Meanwhile, the suite of equity index funds, including WisdomTree 500 Digital Fund and WisdomTree Technology & Innovation 100 Digital Fund, allow institutional investors to look for opportunities in funds that track leading stock market indices.
According to Maredith Hannon, head of business development, digital assets at WisdomTree, providing access to several tokenized funds offers greater choice for investors.
Adding support for the new blockchain networks bolsters this outlook, with flexibility key to adoption.
Hannon added that users can access WisdomTree’s tokens directly on the supported blockchains, with the platform also integrated with self-custodial wallets.
The company also supports major third-party wallets.
WisdomTree is seeing notable adoption for its real world assets offering at a time major players such as BlackRock and Fidelity Investments are also quickly expanding across the market. Similar scenarios can be seen for blockchain-based platform like ONDO Finance, MANTRA and Injective.
Ondo Finance taps into WisdomTree’s money market fund to collateralize it’s tokenized asset OUSG. The blockchain platform also invests in BlackRock’s and Franklin Templeton’s tokenized funds.
Read the full article here