According to Gate market data, as of February 25, 2026, the total cryptocurrency market capitalization continues to grow steadily. Bitcoin (BTC) is trading at $65,326 today, with a 24-hour trading volume of $1.26B and a market dominance of 55.37%. Ethereum (ETH) is priced at $1,903.28, with a 24-hour trading volume of $387.38M.
Against this backdrop, the integration of traditional finance and blockchain technology is reaching a pivotal milestone. Asset management firm WisdomTree has announced that its WisdomTree U.S. Treasury Money Market Digital Fund (WTGXX) has received exemption approval from the U.S. Securities and Exchange Commission (SEC), enabling 24/7 trading and instant settlement. This marks the first time, under the U.S. regulatory framework, that registered tokenized mutual fund shares are permitted to trade continuously on the secondary market.
Institutional Innovation Within the Regulatory Framework
This development goes beyond a simple technical upgrade; it represents a profound institutional breakthrough. By securing an SEC exemption, WisdomTree has successfully established a new liquidity model for tokenized funds under the regulation of the Investment Company Act of 1940.
To enable this model, WisdomTree’s affiliated broker-dealer, WisdomTree Securities, has also received approval from the Financial Industry Regulatory Authority (FINRA) to expand its core business and participate as a principal in fund share trading. This dealer-principal model bypasses traditional exchanges, allowing broker-dealers to provide bilateral liquidity directly from their balance sheets, while fully preserving the primary market subscription and redemption mechanisms for the fund.
Eliminating T+1 Delays: The Value of Instant Settlement
Traditional fund transactions are restricted by a T+1 settlement cycle, meaning investors must typically wait one business day after selling assets before funds are available for use. WisdomTree’s new mechanism eliminates this delay entirely.
By integrating blockchain technology, WTGXX share transactions can now settle instantly. This allows investors to move in and out of this yield-bearing asset in real time, significantly reducing "cash drag" caused by settlement waits and greatly improving capital efficiency. Initially, USDC stablecoin will serve as the settlement medium for round-the-clock transactions, providing institutional users with a seamless on-chain trading experience.
Continuous Dividends: A Fairer Yield Distribution Mechanism
Beyond innovations in trading and settlement, WisdomTree has introduced a continuous dividend accrual feature—a detail difficult to achieve in traditional finance.
Leveraging blockchain timestamps, the system can precisely track how long tokens are held in wallets, even allocating daily yields proportionally based on actual holding time, regardless of transfers occurring within the same day. This mechanism ensures both fairness and accuracy in yield distribution, making tokenized fund shares functionally more robust and better suited to the pace of 24/7 trading.
Market Access and Future Outlook
According to WisdomTree’s plan, the new 24/7 trading and instant settlement features will first be available to institutional clients via the WisdomTree Connect™ platform. In the future, these capabilities may gradually expand to retail investors through channels like WisdomTree Prime®.
As industry giants such as BlackRock and Franklin Templeton ramp up their efforts, the tokenized real-world asset (RWA) market is rapidly expanding. WisdomTree’s breakthrough offers a valuable blueprint for how traditional regulated funds can leverage blockchain as "the new foundational infrastructure for capital markets."
Risk Disclosure and Investor Notice
Despite the significance of this innovation, investors should remain mindful of associated risks. WTGXX primarily invests in short-term U.S. Treasuries and aims to maintain a net asset value of $1 per share, but share values may still fluctuate and are not protected by Federal Deposit Insurance Corporation (FDIC) insurance. Additionally, blockchain-based transactions face technical risks such as network congestion, gas fee volatility, and third-party security vulnerabilities.
