'Why wouldn't you want that?' Ex-CFTC chief on the $1 Treasury fund coming to crypto wallets

Most crypto wallets have functioned as a home for buying and selling speculative tokens. Caroline D. Pham, CEO of MoonPay Institutional and former acting chairman of the Commodity Futures Trading Commission (CFTC), thinks they are about to do something far more important for most investors.

"I do think that wallets are going to become the future, where you're going to have almost everything in your wallet," Pham said. "It's going to be your checking account, your savings account, your stablecoin wallet, your tokenized fund wallet. It's going to be your brokerage account."

Related: Duolingo beats Netflix by 80 spots in new power ranking

A Treasury fund in a crypto wallet

The first step came Sept. 17, when WisdomTree and MoonPay announced a collaboration to expand U.S. access to WTGXX, the WisdomTree Treasury Money Market Digital Fund, which holds short-term Treasuries.

WisdomTree said it is building an access point for its tokenized funds on MoonPay's technology, which reaches more than 35 million users. MoonPay also plans to use the fund in its stablecoin reserves.

"It's a 40 Act rule 2a-7 money market fund," said Will Peck, head of digital assets at WisdomTree. "Just like any money market fund that you can buy in your traditional retail brokerage account."