ECNETNews reports that WisdomTree is expanding its institutional tokenized funds solution to five additional blockchains, marking a significant move in the asset management sector.
Initially launched on Ethereum (ETH), WisdomTree Connect is set to broaden its footprint within the burgeoning tokenization market by deploying across Arbitrum, Avalanche, Base, and Optimism, alongside Ethereum.
WisdomTree Connect officially debuted in September 2024.
This expansion allows WisdomTree to offer a suite of 13 tokenized funds on various blockchain networks, potentially increasing its assets under management.
The offering includes tokenized money market funds, asset allocation funds, and equity index funds. Notably, the WisdomTree Government Money Market Digital Fund, identified by the ticker symbol WTGXX, provides eligible investors access to short-term government securities.
Meanwhile, the suite of equity index funds, featuring the WisdomTree 500 Digital Fund and the WisdomTree Technology & Innovation 100 Digital Fund, presents institutional investors with the opportunity to invest in funds that track key stock market indices.
Maredith Hannon, head of business development for digital assets at WisdomTree, emphasized that the availability of multiple tokenized funds enhances investment choices for users. She noted that the addition of new blockchain networks is critical for fostering adoption.
Hannon also confirmed that users can access WisdomTree’s tokens directly on the supported blockchains, with compatibility for self-custodial wallets and major third-party wallets.
Amidst a growing trend, WisdomTree is witnessing significant adoption for its real-world assets initiative, coinciding with moves by other industry giants to enhance their presence in the market.
The blockchain platform Ondo Finance is leveraging WisdomTree’s money market fund to back its own tokenized asset OUSG, also investing in tokenized funds from other major players.
