Wisdomtree, a fund manager, announced Tuesday the launch of three cryptocurrency asset-exchange-traded products. The ETPs are associated with the cryptocurrency networks Solana, Cardano, and Polkadot and the new crypto investment products are currently listed on Börse Xetra, SIX, and the Swiss Stock Exchange.
Wisdomtree Announces Solana, Cardano and Polkadot Exchange Traded Products
Wisdomtree announced three new ETPs (electronic currency exchange traded products) that are digitally-backed with cryptocurrency. Wisdomtree Solana will launch (SOLW), Wisdomtree Cardano, and Wisdomtree Polkadot funds (DOTW), Wisdomtree said Tuesday. The top 20 largest cryptocurrency market capitalizations are currently held by all three digital currencies.
Additionally, the manager of the fund disclosed that all three crypto ETPs will be listed on Euronext Paris and Amsterdam on March 31. “The ETPs have a total expense ratio (TER) of 0.95%, currently the lowest fees for ETPs providing access to these altcoins in Europe, and are passported for sale across the European Union,” Wisdomtree’s announcement explains. The fund manager’s ETP launch announcement adds:
ETPs provide investors with a cost-effective and simple way to be exposed to the prices of cardano, solana and polkadot. Investors can also gain exposure to these crypto assets through Wisdomtree’s diversified crypto asset basket ETPs.
Wisdomtree’s Jason Guthrie: ‘Crypto Assets Need to Be Liquid Enough for Institutional Use’
There’s been a lot of crypto ETPs launched during the last few years as interest and demand for digital asset investment vehicles has grown significantly. Many crypto-exchange-traded product offerings are offered by companies such as Grayscale, Ficas, Van Eck and Ficas.
“We want to provide investors with a range of crypto asset exposures, whether that be through diversified baskets or single trackers,” Jason Guthrie, the head of digital assets from Wisdomtree Europe said. “A key component to our approach is launching strategies which will resonate with institutional investors.”
Wisdomtree’s executive also added:
These crypto assets must be sufficiently liquid to allow institutional use and supported by ETP market participants. They also need to have clearly defined use cases. This market will continue to evolve as crypto assets become more accessible. [too]We will continue to develop the ETP ecosystem that is necessary for greater institutional adoption. Our product portfolio will be expanded and enhanced to support investors in their quest for crypto assets.
The solana has increased 25% against the U.S. Dollar over the past week and the cardano (ADA has risen 33% in the same time period. The value of Polkadot has increased by 19.9% over the past seven days, according to DOT. With a market valuation of $39.3 Billion, cardano ranks third among the largest smart contract platform coins. SOL ranks fifth in smart contract platform coins by market capital, while DOT is currently at seventh.
What do you think about Wisdomtree’s newly launched crypto asset ETPs? Comment below and let us know how you feel about the subject.
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