WisdomTree Launches Tokenized Funds on Solana with USDC, PYUSD Support

WisdomTree, a global fintech assets manager and ETF/ETP sponsor, has launched its full suite of tokenized fund products on the Solana blockchain.

According to a Jan. 28 press release, WisdomTree Connect and WisdomTree Prime users can now access tokenized funds including money market, equities, fixed income, alternatives, and asset allocation funds on the Solana blockchain directly and via WisdomTree’s stablecoin USDC and PYUSD conversion service.

The expansion to Solana will allow all existing WisdomTree tokenized funds to be minted directly on Solana. According to WisdomTree, this brings full ecosystem support to the Solana blockchain including minting via its B2B/B2B2C tokenization platform and the use of its stablecoin conversion service for subscriptions and redemptions.

Retail investors and Wisdom Prime users will have full on-ramp access to move USDC directly from Solana into the WisdomTree Prime app, keeping funds entirely onchain. This enables seamless investing with near-zero network fees and provides full self-custody support through integrated off-ramping.

Solana Expansion, XRP Withdrawal

The news comes amid a restabilization period for the cryptocurrency market with Bitcoin BTC $89 528 24h volatility: 2.1% Market cap: $1.79 T Vol. 24h: $47.68 B trading just below $90K and Solana SOL $125.7 24h volatility: 0.9% Market cap: $71.18 B Vol. 24h: $3.97 B down nearly a percent over the past 24 hours as of the time of this article’s publication.

Solana remains up around 0.50% for the week, but dipped as low as $125.37 as US markets opened | Source: TradingView

WisdomTree, for its part, saw its stock reach a 10-year high as it climbed to $16.89 on the news before receding slightly to $16.82 as of the time of this article’s publication. It currently remains up nearly 4% for the week and more than 35% over the past 30 days.

WisdomTree’s stock reached a 10-year high on the NYSE exchange | Source: TradingView

WisdomTree’s stock has shown significant recovery since reaching a recent low of around $11.00 after news broke that the firm cancelled plans to launch an XRP XRP $1.91 24h volatility: 1.6% Market cap: $116.37 B Vol. 24h: $2.34 B ETF and asked the SEC to withdraw its registration statement on Form S-1 in the first week of January.

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