$17M Funding Round in Startup to Bring Blockchain Tech Into ETFs
WisdomTree announced investment in a startup called Securrency Inc., one of the top institutional-grade blockchain builders in the financial and regulatory space, per a Jan. 7 press release.
Following the announced funding round, WisdomTree aims to work with Securrency to expand the availability of ETFs via blockchain technology.
WisdomTree sees blockchain as an opportunity to enhance the current ETF world and bring ETFs to more users, in line with regulation, the release noted.
WisdomTree founder and CEO Jonathan Steinberg said he sees underperformance in terms of current blockchain solutions:
"In our review, we found instances of unnecessary applications of the technology and poor compliance with existing regulations; however, there are numerous elements of blockchain technology that, when correctly applied, will bring benefits to investors.”