Quick take:
The funds will be offered across Arbitrum, Base, Avalanche, Ethereum and Optimism blockchains.
The chain-agnostic platform allows customers to use the various chains without ever needing to leave their original networks.
The launch follows increased interest from the firm’s institutional clients for tokenised assets, the WisdomTree team told Blockworks.
WisdomTree has rolled out 13 tokenised funds through its chain-agnostic Connect platform. The exchange-traded funds and investment management company said the funds will be available on the Arbitrum, Base, Avalanche, Ethereum and Optimism blockchains.
WisdomTree Connect allows customers to use the various chains without ever needing to leave their original networks.
The company’s team on Thursday said that the launch follows increased interest from institutional clients for tokenised assets. On Wednesday, Fidelity Investments launched a new Retirement Plan product, allowing customers to invest directly in crypto assets. The U.S. brokerage and investment company also cited increased interest from clients for tokenised assets.
“Historically, WisdomTree Connect was only on Ethereum, and we think it’s really important for availability,” WisdomTree’s Maredith Hannon told Blockworks, citing the platform’s expansion to Arbitrum, Base, Avalanche and Optimism.
This is a way for the company to allow users to access other chains, in tandem with its claim as a chain-agnostic platform, which also features the retail-focused Prime app, built on Stellar.
Unlike other money market fund providers, WisdomTree’s tokenisation platform allows investors to build custom funds on-chain. The platform features index funds, fixed income funds, asset allocation funds and WisdomTree’s signature money market fund, WTGXX.
“We, on purpose, built a suite that really allows any investor to build a diversified portfolio onchain. A lot of the input that we’ve received from the market is, ‘There’s plenty of money market funds. What else do you have?’” Hannon explained.
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