Asset manager WisdomTree is extending the full suite of its tokenized funds onto Solana.
Investors can now mint all of WisdomTree’s tokenized funds on Solana and tap into full ecosystem support, including stablecoin services.
The firm announced this on Wednesday, with the move part of a tokenization drive engulfing the broader market.
Tapping into Solana’s network speed
According to details, the expansion brings WisdomTree’s full suite of regulated tokenized funds to the Solana network, with integration through WisdomTree Connect and WisdomTree Prime platforms.
The asset manager’s tokenized funds cut across money market, equities, fixed income, alternatives, and asset allocation products.
Users can convert stablecoins like USDC and PYUSD for subscriptions and redemptions.
On-chain integration leverages Solana’s high transaction speeds to address demand from crypto-native investors while upholding institutional regulatory requirements.
The asset manager, which manages over $159 billion in assets globally, sees this as a step towards scaling on-chain access to real-world assets (RWA).
“Solana’s infrastructure, which focuses on high transaction speeds, allows us to meet growing crypto-native demand while maintaining the regulatory standards institutions expect, giving both institutional and retail investors more seamless, on-chain access to tokenized funds,” said Maredith Hannon, head of business development, digital assets at WisdomTree.
Retail-focused WisdomTree Prime allows on-ramping USDC from Solana, purchasing yield-generating funds without traditional banking rails, and off-ramping to self-custody wallets.
Solana RWA sector gains momentum
Solana’s RWA ecosystem has grown rapidly, with total value on-chain surpassing $1 billion.
This comes as the global distributed value on-chain jumps, increasing by more than 10% in the past month to over $24 billion.
Data by RWA.xyz shows rapid growth for Solana in the past year.
The launch of US Treasuries like BlackRock’s BUIDL fund has pushed this value higher.
Ondo’s product expansion, alongside the unveiling of various tokenized stocks, has also seen holder numbers increase significantly.
Meanwhile, regulatory milestones have attracted Wall Street to the RWA market, with tokenization efforts bringing billions of dollars worth of assets on-chain.
Industry experts opine that tokenization is the next big investment frontier, with trillions of dollars expected to come on-chain as traditional finance embraces blockchain technology.
Ethereum and BNB Chain are among the top blockchain networks seeing greater traction.
WisdomTree’s tokenized offerings set to bolster Solana include the WisdomTree Government Money Market Digital Fund (WTGXX), the WisdomTree 500 Digital Fund (SPXUX), and the WisdomTree Technology & Innovation 100 Digital Fund (TECHX).
“As real-world assets on Solana surpass $1B, WisdomTree’s decision to expand its full suite of tokenized funds to Solana reflects the demand for expanded access to tokenized RWAs and Solana’s ability to support that demand at scale,” Nick Ducoff, head of institutional growth at Solana Foundation, noted.
Other than tokenized funds, Solana continues to attract notable investment into SOL spot ETFs.
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