SEC allows WisdomTree's tokenized Treasury MMF intraday trading

The U.S. Securities and Exchange Commission (SEC) announced on Feb. 23 that it has permitted WisdomTree's tokenized money market fund (MMF), the WisdomTree Treasury Money Market Digital Fund, to trade at a fixed price of $1 during market hours. The fund, which holds short-term U.S. Treasuries as its underlying assets, issues its shares as tokens on a blockchain. While MMFs typically trade based on their end-of-day net asset value (NAV), this decision allows investors to buy and sell shares at any time during the trading day for $1 per share through a dealer. U.S. SEC Chairman Paul Atkins stated on X that the agency listens when the industry proposes ways to modernize capital markets with new technology, calling the move an important step forward in promoting tokenization innovation.