WisdomTree executives: The CLARITY Act is not a gatekeeper—immediate settlement is already a reality

Will Peck, the Digital Assets Chief at WisdomTree, a wealth management company, says that regardless of whether the U.S. Congress passes the CLARITY Act, WisdomTree’s digital asset innovation plan will not be hindered. He notes that the U.S. Securities and Exchange Commission (SEC) already has sufficient regulatory tools to support the development of tokenized securities and funds—showing that innovation does not necessarily need to wait for new legislation to become reality.

Will Peck’s Key Takeaway: SEC Tools Are Enough, the Bill Is an Added Bonus, Not a Prerequisite

The CLARITY Act is currently awaiting approval from Congress. Its goal is to clarify the jurisdictional boundaries between the SEC and the Commodity Futures Trading Commission (CFTC), and to establish classification and regulatory rules for digital assets. Supporters believe the bill would reduce uncertainty faced by institutions when adopting digital assets.

However, Peck offers a different perspective. He said directly, “I don’t think it will stop what we’re doing, and we don’t think it becomes a hurdle.” More importantly, he emphasized that “the SEC has all the necessary tools to facilitate the development of a healthy market for tokenized securities and tokenized funds.” This stance directly contrasts with some industry views that “without new legislation, there is no progress.”

He acknowledges that the CLARITY Act is “constructively meaningful” for the industry, but he makes it clear that it is an added benefit for moving the business forward, not a necessary prerequisite.

WisdomTree’s Tokenized Product Roadmap: Early-Start Practical Accumulation Ahead of Peers

WisdomTree’s deep involvement in the crypto and tokenized space has begun years earlier than many traditional asset management firms. Its current digital asset product lineup includes:

U.S. Spot Bitcoin ETFs: Providing regulated spot bitcoin exposure in the U.S. market

European Crypto ETP Series: Offering a broader range of crypto exchange-traded products in the relatively less competitive European market

Tokenized Money Market Funds: Among the industry leaders in size, having found “a strong product-market fit”

SEC Exemptive Authority: Obtaining a special SEC exemption that allows funds to trade continuously 24/7, breaking the traditional T+1 settlement constraint

Peck reveals that the company’s next step is to expand tokenization beyond money market funds, including ETFs and yield-oriented products. This would allow investors to ultimately access familiar financial assets directly from digital wallets, without relying on traditional brokerage-account infrastructure.

The Practical Meaning of Instant Settlement: Seamless Conversion Between USD, USDC, and Funds by Institutions

The most representative achievement of tokenized money market funds is enabling truly instant settlement. Under traditional fund structures, subscriptions or redemptions typically require waiting for same-day or even next-day settlement. But with WisdomTree’s tokenized framework, institutional investors can instantly convert between dollars, USDC (stablecoins), and fund shares at any time, with no waiting period.

Peck describes it as, “This product truly achieves the instant settlement we’ve been dreaming of.” This demonstrates the actual real-world form that traditional financial products can take on blockchain platforms, and provides concrete business validation for the feasibility of tokenized financial products in institutional markets.

Regarding the recent volatility in the crypto market, Peck remains unfazed, saying, “Recent crypto price fluctuations have no impact on us,” and describing the company’s operations as “everything is running normally.” This reflects that demand for regulated tokenized financial products is relatively independent of short-term market sentiment.

Frequently Asked Questions

Why does WisdomTree think the CLARITY Act is not a necessary condition for innovation?

Will Peck’s core argument is that the SEC’s existing regulatory tools can already support the creation and operation of tokenized securities and funds. The successful operation of WisdomTree’s tokenized money market fund under the current framework, along with the obtaining of SEC exemptions, confirms that new legislation is not a prerequisite for launching innovation—but rather a follow-up rule set for innovation space that already exists.

What is the practical significance of the instant settlement feature in WisdomTree’s tokenized money market fund?

Instant settlement allows institutional investors to seamlessly convert anytime between dollars, USDC, and fund shares, breaking free from traditional fund settlement deadlines. This significantly improves institutional capital liquidity—for example, when market opportunities arise, funds can be deployed immediately instead of waiting for next-day settlement. It represents a key milestone in the migration of traditional financial infrastructure to an on-chain architecture.

What is the specific impact on institutions like WisdomTree after the CLARITY Act is passed?

Peck believes that after the CLARITY Act is passed, it would reduce regulatory uncertainty and accelerate institutional adoption, which is positive for the industry overall. But for WisdomTree specifically, since the company has already built a mature compliance path under the existing framework, the bill is mainly an “added bonus” rather than a decisive factor. The real competitive advantage lies in practical accumulation earlier than peers and the establishment of trust relationships with the SEC.