The U.S. Securities and Exchange Commission (SEC) has approved nine more blockchain-enabled funds from asset manager WisdomTree.
Even though none of these funds track crypto assets themselves, WisdomTree describes them as “digital assets” because they utilize the Ethereum and Stellar blockchains to keep a secondary record of share ownership, thus making them blockchain-enabled.
The funds will be available through the WisdomTree Prime mobile app in the first quarter of 2023. They will offer exposure to various asset classes, such as equities, commodities, and floating-rate treasuries.
Before this, SEC has rejected various applications for WisdomTree. Following these approvals, WisdomTree emphasizes its desire to integrate blockchain technology further to improve the investor experience after announcing the approval of nine new digital funds.
Will Peck, WisdomTree’s Head of Digital Assets, said, “We believe that blockchain-enabled finance has the potential to improve the investor experience through enhanced liquidity, transparency and standardization, which we aim to achieve over time.”