WisdomTree launches tokenized fund offering access to private credit

[businessman showing a smart contract and executing a cryptocurrency transaction with blockchain technology. The transaction is secure and transparent, and there are other people in the background.]
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WisdomTree (NYSE:WT [https://seekingalpha.com/symbol/WT]) rolled out [https://seekingalpha.com/pr/20230524-wisdomtree-brings-private-credit-onchain-with-the-launch-of-tokenized-wisdomtree-private] a tokenized fund providing crypto-native investors and institutions exposure to traditionally hard-to-access private credit, it said on Friday.

The WisdomTree Private Credit and Alternative Income Digital Fund (token ticker: CRDT; fund ticker: CRDYX) seeks to track the price and yield performance of the Gapstow Private Credit and Alternative Income Index, an equal-weighted gauge tracking the performance of 35 publicly-traded alternative credit vehicles using an objective, rules-based methodology.

The new fund has a T+0 settlement for subscriptions, T+2 settlement for redemptions, and a minimum investment of $25. At launch, the fund will be tokenized on the Ethereum (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]) and Stellar (XLM-USD [https://seekingalpha.com/symbol/XLM-USD]) blockchains.

“CRDT unlocks access to one of the most coveted asset classes – alternatives – directly onchain. By expanding the breadth of our tokenized funds, we’re giving crypto native investors the chance to diversify via exposures that were once reserved for institutions, all within the digital ecosystem,” said Will Peck, head of Digital Assets at WisdomTree.

Tokenization occurs when the ownership of an asset, such as real estate, credit or funds, turns into digital tokens recorded on the blockchain. It's gaining popularity as it makes such traditional investments easier to trade.

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