According to Blockworks, WisdomTree plans to add a range of digital funds to its blockchain-enabled consumer app, WisdomTree Prime, by the end of the year. The company, which managed approximately $94 billion in assets as of September 30, aims to maintain its first-mover status in tokenization. WisdomTree Prime, launched in July, currently offers access to nine digital funds, dollar and gold tokens, bitcoin (BTC), and ether (ETH). The app's reach was expanded to residents in 11 additional states earlier this month.
WisdomTree CEO Jonathan Steinberg announced during the company's earnings call on Friday that the firm intends to add a money market fund to WisdomTree Prime. Additionally, three WisdomTree Siegel-branded digital funds will be offered, allowing customers to deploy a model-like experience with just one click. These funds, developed in partnership with finance professor Jeremy Siegel from the University of Pennsylvania, will be added to WisdomTree Prime this quarter.
The company also plans to introduce additional features, such as debit card connectivity and peer-to-peer functionality, in the coming quarters. Steinberg noted that every new feature or product has generated interest from larger players in the financial and technology industries. WisdomTree is also one of several fund issuers with a spot bitcoin ETF proposal in front of the US Securities and Exchange Commission, which has yet to approve such a product for the US market. Will Peck, WisdomTree's head of digital assets, expressed the company's continued focus on a spot bitcoin ETF and their eagerness to engage with regulators on the matter.
