Wisdomtree launched three cryptocurrency exchange-traded products (ETPs). The new crypto investment products are now listed on Börse Xetra, SIX, and the Swiss Stock Exchange, and are linked to the cryptocurrency networks Solana, Cardano, and Polkadot.
Wisdomtree has announced the launch of three new digital currency exchange-traded products (ETPs), all of which are backed by cryptocurrencies. Wisdomtree Solana (SOLW), Wisdomtree Cardano (ADAW), and Wisdomtree Polkadot are among the new funds announced by Wisdomtree on Tuesday (DOTW). All three digital currencies are now ranked among the top 20 highest crypto market capitalizations in the world.
The three cryptos ETPs will be listed on Euronext exchanges in Amsterdam and Paris on March 31, according to the fund management. Wisdomtree’s release says, “The ETPs have a total expense ratio (TER) of 0.95 percent, presently the lowest fees for ETPs providing access to these altcoins in Europe, and are passported for sale across the European Union.” The fund manager’s announcement of the ETP’s launch includes the following:
“The ETPs are designed to offer investors a simple, secure, and cost-efficient way to gain exposure to the price of solana, cardano, and polkadot. Investors can also gain exposure to these crypto-assets through Wisdomtree’s diversified crypto-asset basket ETPs.”
As interest and demand for digital asset investment vehicles have expanded dramatically in recent years, a slew of crypto ETPs has been introduced. Crypto exchange-traded products are available from companies such as Amun AG, Ficas, Van Eck, and Grayscale.
“We want to provide investors with a variety of crypto-asset exposures, whether through diversified baskets or single trackers,” said Jason Guthrie, Wisdomtree Europe’s head of digital assets. “One of the most important aspects of our strategy is releasing strategies that will appeal to institutional investors.”
The company’s executive went on to say:
“These need to be crypto assets that are liquid enough for institutional use, are supported by the ETP market participants, and have clear use cases. As the crypto asset market evolves, so [too] will the ETP ecosystem which is needed for more institutional adoption. We will continue to enhance and expand our product range, supporting investors on their journey into crypto assets.”
Solana (SOL) has gained 25.5 percent versus the US dollar in the last week, while cardano (ADA) has gained 33 percent. Polkadot (DOT) has similarly risen in value during the last week, rising 19.9% in the last seven days. Cardano is the third-largest smart contract platform coin by market capitalization, with a market cap of $39.3 billion. SOL is the fifth-largest smart contract platform currency by market capitalization, whereas DOT is currently in seventh place.
