Institutions · NEWS
BitGo Plans WTGXX Access Through Institutional Custody Platform
BitGo Bank & Trust plans to let eligible institutional clients access WisdomTree's tokenized Treasury money-market fund through BitGo Mint.
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BitGo Bank & Trust announced on October 27 that it plans to integrate the WisdomTree Treasury Money Market Digital Fund, WTGXX, into BitGo Mint for eligible institutional clients. The companies describe a future integration rather than a service that is already live.
Once available, eligible clients are expected to submit purchase and redemption instructions through BitGo Bank & Trust and move between U.S. dollars, supported stablecoins and fund shares without separately onboarding with WisdomTree. BitGo also plans to support peer-to-peer reallocation of beneficial interests between eligible clients through its Go Network settlement system.
The announcement includes important limits. Launch timing remains under development and may change. Collateral functionality, peer-to-peer transfers and certain stablecoin services may not be available at launch. BitGo Bank & Trust will provide shareholder servicing and sub-accounting for WTGXX, but is not the fund’s investment adviser, broker-dealer or distributor. Fund shares are investments rather than bank deposits and are not FDIC-insured.
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Key takeaways
- //Eligible institutional clients are expected to access WTGXX through BitGo Mint after the integration goes live.
- //BitGo says clients would be able to submit purchase and redemption instructions and move between supported cash, stablecoins and fund shares on-platform.
- //Launch timing remains in development, and collateral, peer-to-peer transfer and some stablecoin functions may not be available at launch.
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