WisdomTree Gets SEC Nod for 24/7 Tokenized Money Market Fund (1)

A new breed of money-market fund has arrived on Wall Street.

This week, US regulators gave WisdomTree Inc. so-called exemptive relief to trade tokenized shares of its money-market mutual fund intraday, in what the asset manager says is a first-of-its-kind approval that could re-jig the plumbing of cash management.

The green light from the US Securities and Exchange Commission allows investors to buy and sell shares in the $730 million WisdomTree Treasury Money Market Digital Fund at a constant $1 throughout the day, regardless of its end-of-day net asset value. Trading will start next week and can take place around ...