Digital found strives to introduce a tokenized S&P 500 fund
Digital found strives to introduce a tokenized S&P 500 fund
- Registered digital securities become "the new digital de facto marketplace," says the founder of Digital Funds
- Wisdomtree applied last year to put on a digital short-term treasury find that recorded its shares secondarily on one or more blockchains
A newly founded Digital Asset Manager, who submitted his first ETF last month, tried to bring another offer to the market.
Digital Funds has applied for the laying of a tokenized S&P 500 EW index fund, which would mainly invest in the securities of issuers that are included in the S&P 500 Equal Weight Index A regulatory disclosure Submitted.
Although the official recording of the fund's shareholder in the book entry form, they are also recorded-as a digital token-in the Algorand Blockchain, the submission said. Fund shares can finally be recorded in other blockchain protocols.
The fund will not invest in assets that are dependent on blockchain technology, such as: B. cryptocurrencies, according to the registration states.
Michael Willis, who founded digital funds in December, told Blockworks that registered digital securities become "the new digital de facto marketplace", since the unregistered area is exposed to a more precise examination by the supervisory authorities.
"So far, the registered marketplace for digital securities has been lacking in a high quality, easy -to -price and immediately recognizable security," he added. "Therefore, adoption was limited. We believe that the approval of a marquee-toked index fund has the potential to break the acceptance far."
Kommentare (0)