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WisdomTree partners with MoonPay to bring tokenized Treasury fund to retail investors
The collaboration opens up WisdomTree's WTGXX money market fund to MoonPay's 35 million-plus account holders, marking the first public distribution of tokenized funds through the crypto payments giant.
WisdomTree and MoonPay are teaming up to put a tokenized money market fund in front of millions of everyday investors who previously had no easy way to access it. The partnership, announced on September 17, connects WisdomTree’s Treasury Money Market Digital Fund (WTGXX) to MoonPay’s distribution network of over 35 million accounts and more than 1,700 partnerships.
It’s the first time MoonPay has served as a public distribution channel for tokenized funds.
What WTGXX actually is
WTGXX is a money market mutual fund registered under the Investment Company Act of 1940. The fund invests exclusively in short-term US Treasury and government securities, targeting a stable net asset value of $1.00 per share.
WisdomTree uses blockchain technology for recordkeeping and represents fund shares as tokens deployed across multiple chains, including Ethereum, Arbitrum, Base, and Avalanche. The expense ratio sits at 0.25%. Traditional money market funds charge between 0.10% and 0.50%, so WTGXX lands in the middle of the pack.
That 24/7 capability stems from SEC exemptions granted in February 2026, which allow the fund to trade and settle instantly using a dealer-principal model. Traditional mutual funds settle on a T+1 basis and can only be traded during market hours.
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Why MoonPay matters here
WisdomTree launched WTGXX under a different name, the Government Money Market Digital Fund, and it began trading in its current form in November 2023. Since then, assets under management have grown to somewhere between approximately $765 million and $1.22 billion, depending on the estimate.
The fund’s reach was largely confined to traditional broker-dealer channels. MoonPay’s infrastructure is already embedded in wallets, exchanges, and fintech apps used by tens of millions of people. Routing WTGXX through that network means a retail investor who might never open a brokerage account can now access a regulated Treasury fund through platforms they already use.
Caroline D. Pham, MoonPay’s Institutional CEO, pointed to the rapid acceptance of blockchain and tokenization across the financial ecosystem as a driver behind the deal. WisdomTree CEO Jonathan Steinberg, meanwhile, highlighted stablecoins as critical infrastructure for value transfer, framing the partnership as a natural extension of that thesis.
The role of stablecoins in facilitating value transfer is integral to the next phase of digital finance, according to Steinberg.
What this means for the tokenization race
By piggybacking on MoonPay’s existing rails, WisdomTree sidesteps the cold-start problem that plagues many tokenized offerings. Instead of building a new user base from scratch, the fund plugs into an established network where millions of users already have accounts, payment methods on file, and familiarity with purchasing digital assets.
WTGXX’s SEC exemptions for 24/7 trading and instant settlement set a precedent that other tokenized funds can potentially follow. Every new exemption and approval chips away at the argument that blockchain-based financial products can’t operate within existing regulatory frameworks.