WisdomTree launches three new crypto ETPs in Europe

WisdomTree has listed three new cryptocurrency exchange-traded products (ETPs). The three ETPs will offer investors exposure to Solana, Cardano and Polkadot. The ETPs have been listed on the Swiss Stock Exchange, and they will be listed on Euronext Amsterdam and Paris on March 31.

WisdomTree launches three new crypto ETPs

The WisdomTree Solana (SOLW), WisdomTree Cardano (ADAW) and WisdomTree Polkadot (DOTW) have a total expense ratio (TER) of 0.95%, which is the lowest fee compared to the other ETPs in Europe offering exposure to these three altcoins.

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The ETPs provide a cost-efficient, simple and secure way through which people can be exposed to Solana, Cardano and Polkadot ecosystems. Investors can invest in the ETPs through the WisdomTree diversified crypto-asset basket ETPs, WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoins (WALT).

The head of digital assets for WisdomTree in Europe, Jason Guthrie, noted that WisdomTree was launching these ETPs to target institutional investors. The firm selected new ETPs with high liquidity for institutions and solid use cases.

Guthrie added,

As the crypto asset market evolves, so will the ETP ecosystem, which is needed for more institutional adoption. We will continue to enhance and expand our product range, supporting investors on their journey into crypto assets.

Growth of ETPs

ETPs have become quite popular in the cryptocurrency space because they expose investors to cryptocurrencies without holding actual tokens. ETPs have become increasingly popular in Europe. So far, WisdomTree has eight cryptocurrency ETPs.

Besides WisdomTree, other crypto ETF issuers in Europe include 21Shares and VanEck. The two have also launched crypto ETPs that offer exposure to other cryptocurrencies beyond Bitcoin and Ethereum.

Despite the growth of spot crypto products in Europe and other countries, the same growth has not been witnessed in the US. The US Securities and Exchange Commission (SEC) has hesitated to approve any spot crypto product.

In October 2021, the institution approved a Bitcoin futures ETF. However, any application for a spot Bitcoin ETF has been rejected or delayed. Grayscale, the largest digital asset management firm, has threatened to sue the SEC if its application for a spot Bitcoin ETF is not approved.