WisdomTree just announced a series of TRADABLE "money market equivalents", funds seeking to perform similarly to money market funds available in a number of different countries, such as China, India, Brazil and Japan. In the case of the US and Euro Funds, they seek to return 1-month LIBOR, denominated in their respective currencies. Cool idea, especially if it catchs on...I mean who isn't tired of .4-.6% cash sweep rates at most online brokerages? That being said, the commission needed to enter or exit the ETF does defeat a good bit of the purpose of the US fund, as anyone with enough money to invest in a fund like this (meaning they'll make enough on the investment to cover both sides of the commission plus enough to make worth the time and effort) is already getting at least LIBOR on their cash account, if not more (think non-federal money market). Those with currency exposures I can understand, but I'm willing to bet "USY" is not the next "SPY".
WisdomTree Currency ETFs
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