Additional CommentWisdomTree is primarily regulated by the U.S. Securities and Exchange Commission (SEC) for its Exchange-Traded Funds (ETFs), which are governed under the Investment Company Act of 1940. The firm also operates under the oversight of the Commodity Futures Trading Commission (CFTC) for derivative-related products and the Financial Industry Regulatory Authority (FINRA) for broker-dealer activities. Globally, it operates under European (UCITS, MiCA) and UK (FCA) regulations.
Additional CommentWisdomTree operates a series of the WisdomTree Digital Trust (the “Trust”). The Trust was organized as a Delaware statutory trust on April 19, 2021, and has multiple series or portfolios. The Trust is an open-end management investment company, registered under the 1940 Act. The Fund is “diversified” within the meaning of the 1940 Act. The offering of the Trust’s shares is registered under the Securities Act of 1933, as amended. The securities purchased by the Fund are subject to the quality, diversification, and other requirements of Rule 2a-7 under 1940 Act, and other rules adopted by the SEC.
Additional CommentTokens issued by WisdomTree represent fund shares and are facilitated through its digital platform, WisdomTree Connect. These tokens are managed by WisdomTree Securities, Inc. (WTS), a broker-dealer registered with the SEC and a member of FINRA. Although the tokens are not subject to a specific token-focused regulatory framework, they are classified as securities and must comply with existing U.S. securities laws, including SEC and FINRA regulations governing the issuance, trading, and reporting of fund shares.