By year’s end, WisdomTree intends to expand its blockchain-enabled consumer app, WisdomTree Prime, to include a variety of digital funds. The business wants to continue being the first in tokenization, having managed almost $94 billion in assets as of September 30. Since its July launch, WisdomTree Prime has provided users with access to nine digital funds, ether (ETH), bitcoin (BTC), and dollar and gold tokens. Earlier this month, users in 11 more states were added to the app’s scope.
During the business’s earnings call on Friday, WisdomTree CEO Jonathan Steinberg said that the company plans to include a money market fund in WisdomTree Prime. Three digital funds with the WisdomTree Siegel brand will also be available, enabling users to instantly deploy a model-like experience. This quarter, these funds—which were created in collaboration with University of Pennsylvania finance professor Jeremy Siegel—will be added to WisdomTree Prime.
In the upcoming quarters, the company also intends to roll out new features like peer-to-peer capability and debit card integration. Larger firms in the technology and finance sectors have expressed interest in every new feature or product, according to Steinberg. The US Securities and Exchange Commission has not yet approved a spot bitcoin ETF for the US market, but WisdomTree is one of several fund issuers that have submitted a proposal for one. WisdomTree’s head of digital assets, Will Peck, stated that the company is keen to interact with regulators over the topic and that it will continue to focus on a spot bitcoin ETF.