Along with ETFs, ETPs have also started to play a big role in helping institutional investors enter the Bitcoin and altcoin space. The number of investment products that emerged as ETPs has also increased considerably. Today, WisdomTree announced the launch of three altcoin focused ETPs. Here are the details…
WisdomTree offers ETP for these 3 altcoins
Investment firm WisdomTree has launched yet another portion of crypto exchange-traded products (ETPs) in the European market. According to a press release, new ETPs covering Solana (SOL), Cardano (ADA) and Polkadot (DOT) were listed on the Swiss exchange SIX and Börse Xetra on Tuesday. Euronext exchanges in Paris and Amsterdam will add ETPs at the end of the month. As
Kriptokoin.com, cryptocurrency ETPs are mainstream investment vehicles that offer easy exposure to crypto. They are quite common in the European region, where regulators are moving faster towards cryptocurrency products. WisdomTree and other companies like VanEck and 21Shares have all launched crypto ETPs in Europe far beyond simple “vanilla” options like Bitcoin (BTC) and Ethereum (ETH).
Bitcoin ETF still pending approval in the US
Meanwhile in the US, crypto asset managers are still the US Securities and Exchange Commission’s (SEC) first Bitcoin spot tool, the first Bitcoin He’s fighting to get his ETF approved. The SEC authorized two cash-settled Bitcoin futures ETFs last October. “An important component of our approach is launching strategies that will resonate with institutional investors,” said Jason Guthrie, Head of Digital Assets Europe at WisdomTree.
Competition has driven crypto ETP spending down (WisdomTree is among the lowest at 0.95%) but has also forced ETF issuers to innovate. FTX and CoinShares said last week that they are working to launch the “first” Solana ETP, which gives back some of the stake rewards to investors. Cardano, one of the cryptocurrencies whose ETP was released, is changing hands at $1.22 with a 3.2% increase at the time of writing, Polkadot at $22.7 with a 1.6% decrease, and Solana at 111.51 dollars with an increase of 1.8 percent.
49178
