These nine funds are effective with the U.S. SEC and come ahead of WisdomTrees digital wallet, slated to launch in the first quarter of 2023, according to a company release. The nine bring WisdomTree's total digital funds up to 10. The firm's first digital fund, the WisdomTree Short-Term Treasury Digital Fund, was approved by regulators in September of this year.
"We believe that blockchain-enabled finance has the potential to improve the investor experience through enhanced liquidity, transparency and standardization, which we aim to achieve over time, and these nine digital funds are setting the foundation as we seek to bridge the gap between traditional finance and digital finance today," said WisdomTree Head of Digital Assets Will Peck in a company statement.
WisdomTree attempted to list a bitcoin spot ETF in 2022 and 2021. The SEC rejected both proposals, citing insufficient parameters to prevent fraud and market manipulation.
Despite meeting estimates in the third quarter of 2022, the firm's crypto holdings fell 56% from $406 million at the beginning of the year to $178 million in October, The Block previously reported.