HomeWisdomTree launches Solana, Cardano, Polkadot ETPs in Europe

WisdomTree launches Solana, Cardano, Polkadot ETPs in Europe

Benson Toti
  • WisdomTree’s SOLW, ADAW and DOTW are available on the Börse Xetra, Swiss SIX, and the Swiss Stock Exchange.

  • They will also list on Euronext exchanges in Paris and Amsterdam, the firm said in a statement.

WisdomTree has announced the listing of three new physically-backed crypto exchange-traded products (ETPs).

The new crypto-backed products are WisdomTree Solana (SOLW), WisdomTree Polkadot (DOTW) and WisdomTree Cardano (ADAW). According to the provider, the three ETPs offer the lowest fees, with a total expense ratio (TER) of 0.95%.

SOLW, ADAW and DOTW add to WisdomTree’s other five ETPs, including on major cryptocurrencies Bitcoin and Ethereum.

The others are the WisdomTree Crypto Market (BLOC), WisdomTree Crypto Altcoins (WALT) and WisdomTree Crypto Mega Cap Equal Weight ETPs (MEGA).

Products that “resonate” with investors

The firm, which is one of the largest providers of both exchange-traded funds (ETFs) and ETPs, said in a statement the three products are available at Germany’s Börse Xetra and Switzerland’s Swiss SIX exchange and the Swiss Stock Exchange.

The ETPs will also list on Euronext exchanges in Paris and Amsterdam starting on Thursday, with passporting allowing for their availability across the European Union.

Investing in the ETPs provides easy and secure exposure to prices of Solana, Polkadot and Cardano. The same exposure is accessible via WisdomTree’s several products, including a diversified crypto ETP portfolio and the WisdomTree Crypto Altcoins (WALT) offering.

Jason Guthrie, Head of Digital Assets in Europe, said the launch of the ETPs is part of the company’s strategy to offer products that “resonate with institutional investors.”

These need to be crypto assets which are liquid enough for institutional use, are supported by the ETP market participants and have clear use cases,” he noted in a statement.

He also added that the investment provider was looking to expand its offering even further, alluding to efforts to have its Bitcoin exchange-traded fund (ETF) listed in the United States.

Earlier this week, the ETC Group announced exchange-traded cryptocurrencies (ETCs) for Avalanche, Cosmos and Polygon. The ETCs will list on the Swiss SIX exchange and the Börse Xetra.

Fidelity Investments has also been active in the European market, with its physical bitcoin ETP launched just last month.

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