Talking Tokenization: WisdomTree bets big on tokenized RWAs as its AUM surges 2,466%

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Tokenization has long been pitched as the next frontier of the capital markets, but until a couple years ago, that pitch lived in the realm of hypotheses. As demand has materialized over recent years, the market has filtered out products that were more fueled by hype than actually solving a problem.

For Will Peck,  head of digital assets at WisdomTree, the reason for tokenization’s success isn’t hype, but genuine product demand.

WisdomTree, founded as an ETF issuer in the mid-2000s, has expanded over the years to offer exchange-traded products, tokenized RWAs and a consumer wallet app WisdomTree Prime.  Today, it manages roughly $150 billion globally, the company reported. 

A lot of the current demand is for tokenization, not just crypto ETFs,, Peck said on Token Relations’ Talking Tokens podcast. 

As with stablecoin issuers and other asset managers, last year proved exceptional for WisdomTree, as its tokenized real world assets (RWAs) under management surged nearly 2,500% to  $770 million from $30 million at the beginning of 2025. 

“It's an area of huge energy for us and we think it is going to be one of the critical components of the future strategy of the firm,” Peck said. “That's really found product-market fit as the next extension after stablecoins for people who are looking to hold value onchain.”

The broader tokenized treasury market recently surpassed $10 billion, reflecting growing demand for yield-bearing, dollar-denominated assets.Peck believes the firm’s tokenized money market fund could become a major driver for WisdomTree, scaling to billions of dollars in the “very near future.” In the long term, he sees it growing into the tens of billions of dollars.

Early tokenization experiments have focused on sectors like real estate and other illiquid assets, but Peck believes the bigger opportunity lies in highly liquid markets like treasuries, large cap U.S. stocks, and international equities. “That’s where tokenization really adds value,” he said.

The real breakthrough is expected to come from moving liquid assets from T+1 settlement to instant settlement, reducing counterparty risk and unlocking new collateral use cases.

With that in mind, at the end of February, the company’s WisdomTree Treasury Money Market Digital Fund (WTGXX) launched 24/7 trading and instant settlement within the US following SEC approval.

“I think tokenized ETFs are going to be the next big thing,” Peck said. “That’s something WisdomTree is working very hard on. We’re going to bring additional exposures onchain and make them tradable.”

Check out the next section for more details and the full episode.

For today’s episode, I interviewed Will Peck, head of digital assets at WisdomTree, about the firm's explosive growth in tokenized real-world assets from $30 million to $770 million and its recent SEC approval for 24/7 trading and instant settlement. Will explains how WisdomTree's tokenized money market fund serves three key use cases:, stablecoin reserve management, crypto-native treasury management, and DeFi collateral and why the company believes this fund could become their largest across the entire business.

He walks through the SEC exemptive order that unlocks nonstop trading, how tokenization brings instant settlement that traditional recordkeeping cannot replicate, and why WisdomTree focuses on liquid assets like treasuries rather than illiquid real estate. The conversation covers WisdomTree Prime, WisdomTree Connect, DeFi partnerships, Europe’s regulatory opportunity, and the key unlocks needed for tokenization to scale.

This episode is sponsored by Securitize, the proven leader in tokenized funds, equities, and private markets. Discover more at securitize.io.

TIMESTAMPS 

00:00 – Intro

01:31 – How WisdomTree defines tokenization as recordkeeping technology

04:16 – Growth from $30M to $770M in tokenized assets within one year

06:13 – Three use cases: stablecoin reserves, treasury management, and DeFi collateral

08:01 – Talking to Aave and Morpho about integrating tokenized funds as collateral

09:17 – Why its tokenized money market fund could become WisdomTree's largest fund overall

10:17 – SEC approval for 24/7 trading and instant settlement: the big unlock

13:11 – Why 24/7 trading only works with tokenized funds, not traditional infrastructure

16:02 – DeFi and TradFi convergence: partnership not competition

18:28 – Customer journey: wallet-first users, not brokerage account holders

27:42 – Why liquid assets benefit more from tokenization than illiquid real estate

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