WisdomTree launches 3 crypto ETPs for European clients

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Nov 30, 2021
  • WisdomTree has announced that it will be launching three crypto ETPs for its European market.
  • The three ETPs will trade on Borse Xetra and the Swiss Stock Exchange.
  • The three products seek to offer crypto exposure to the firm’s clients.

Wisdom Tree, one of the largest asset management firms, has announced the listing of three new crypto basket exchange-traded products (ETPs) in Europe. The three ETPs have been listed on the Swiss stock exchange SIX and Borse Xetra.

The three new cryptocurrency basket ETPs include mega-cap and altcoin ETPs. The names of the three ETPs will be The Wisdom Tree Crypto Market (BLOC), WisdomTree Crypto Altcoins (WALT) and WisdomTree Crypto Mega Cap Equal Weight (MEGA) have already been listed for trading.

WisdomTree launches three crypto ETPs

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MEGA has an equal-weighted allocation to mega-cap digital assets such as Bitcoin (BTC/USD) and Ethereum (ETH/USD). This ETP has a total expense ratio (TER) of 0.95%. On the other hand, BLOC and WALT have fees of 1.45%.

On the other hand, BLOC offers exposure to cryptocurrency assets that comprise 70% of the crypto market. Moreover, the fund has been created for people seeking liquidity and exposure to the crypto market.  

The underlying assets that have been included under the new fund include Bitcoin, Ethereum, Cardano, Bitcoin Cash, Litecoin, Polkadot and Solana.

The third fund, known as WALT, will offer investors a chance to diversify their investments into assets that are not classified as mega-cap. This fund currently includes Cardano, Bitcoin Cash, Litecoin, Polkadot and Solana, with the coins capped at a 50% max weighting.

WisdomTree believes in crypto

The head of digital assets for WisdomTree in Europe, Jason Guthrie, spoke of this development stating that the firm believed in the power of cryptocurrencies as an asset class. He stated that the crypto-asset market is becoming a sophisticated tool for institutional investors.

“That is exactly what we have developed here, a range of institutional-grade basket ETPs that allow investors to gain diversified exposure to crypto markets and, more broadly, participate in the potential growth of the decentralized economy including native cryptocurrencies, payments, smart contracts, DeFi and NFTs.”

In April, WisdomTree announced expanding its range of cryptocurrencies by launching an Ethereum strategy known as WisdomTree Ethereum ETP (ETHW). In September, the firm expanded the division of its digital assets with the appointment of Benjamin Dean as the director of the division of its digital assets.

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