WisdomTree, the American exchange-traded fund (ETF) provider, continues expanding its cryptocurrency products in Europe by launching three new crypto exchange-traded products (ETPs) backed by Solana (SOL), Cardano (ADA), and Polkadot (DOT).
It has been reported that WisdomTree announced the launch of three new physically-backed crypto ETPs, including WisdomTree Solana (SOLW), WisdomTree Cardano (ADAW), and WisdomTree Polkadot (DOTW). The ETPs are already listed on major European digital exchanges like Deutsche Boerse’s Xetra, the Swiss SIX exchange, and the Swiss Stock Exchange.
However, the pan-European exchange Euronext is expected to list the crypto ETPs in Amsterdam and Paris on Thursday. The ETPs are designed to offer investors in Europe another option by which to gain exposure to the price of Solana, Cardano, and Polkadot via regulated exchanges.
The report said that SOLW, ADAW, and DOTW have a total expense ratio of 0.95% and are available for sale in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Spain, Sweden, and Switzerland.
Likewise, the new ETPs follow the growing crypto asset product offering by WisdomTree in Europe, joining products like WisdomTree Crypto Mega Cap Equal Weight ETP, which is backed by physical assets including Bitcoin (BTC) and Ether (ETH), as well as WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoins (WALT).
Alexis Marinof, the Head of Europe at WisdomTree, said that the new offering aims to meet the growing demand from institutional investors to diversify their crypto portfolio.
“While Bitcoin and Ethereum grab the headlines, altcoins are now viable options for many institutional investors, providing more options to diversify their crypto holdings just like they would with any other asset class.”
As previously reported, WisdomTree has been actively launching ETPs in Europe amid regulatory hurdles in the United States.
Thus, in late 2021, the US Securities and Exchange Commission rejected WisdomTree’s spot Bitcoin ETF after delaying a decision on the product multiple times. The firm subsequently amended its spot BTC ETF filing, naming US Bank as a custodian for its BTC trust.