Today WisdomTree launched WisdomTree Prime, a mobile app for digital assets. The asset manager is best known for its conventional Exchange Traded Funds (ETF) and has $94 billion in assets under management. The new app is available in 21 U.S. states and lets investors buy Bitcoin, Ether, tokenized gold and WisdomTree digital funds.
These digital funds don’t invest in cryptocurrency but instead are conventional funds tokenized on the Stellar and Ethereum blockchains.
However, the digital funds are only accessible via the WisdomTree Prime app and can’t be traded on a centralized or DeFi exchange. Late last year, the SEC acknowledged the registration of the funds enabling WisdomTree to prepare for launch. But there’s a feature that will have helped to get the green light. Blockchain is not the only record of ownership. Additionally, it uses an SEC registered transfer agent to keep track of the holders of the funds’ shares.
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