A US-based startup has reportedly been successful in attracting $17 million, which will be devoted to adopting blockchain for ETFs in the nation.
Specifically, WisdomTree has revealed its initiative of giving a financial investment to Securrency Inc. – an expert in the field of institutional-grade blockchain development, for the financial and regulatory sector.
WisdomTree – an asset asset managing firm, ETF and exchange traded-product (ETP) supporter – is exploring the possibilities of applying blockchain features to the ETF market.
With the sum of fund recently invested into the startup, both WisdomTree and Securrency will put in extensive efforts to make blockchain-enabled ETFs more available.
The freshly-obtained $17 million of Securrency was generated from WisdomTree, Abu Dhabi Investment Office (ADIO), Monex Group, Inc., along with a few other names in the industry.
A Bitcoin exchange-traded fund (ETF) is a concept still missing in the US market, despite the previous efforts from VanEck/SolidX and Bitwise – companies that have tried to introduce crypto ETFs, but none has managed to overcome regulation-related issues.