Home News ETF provider WisdomTree launches Solana, Cardano, Polkadot ETPs

ETF provider WisdomTree launches Solana, Cardano, Polkadot ETPs


WisdomTree, an American exchange-traded fund (ETF) provider, has launched three new cryptocurrency exchange-traded products (ETPs) backed by Solana (SOL), Cardano (ADA), and Polkadot in Europe (DOT).

WisdomTree (SOLW), WisdomTree Cardano (ADAW), and WisdomTree Polkadot are three new physically-backed cryptos ETPs launched by WisdomTree on Tuesday (DOTW).

The ETPs are already available for trading on major European digital exchanges such as Deutsche Boerse’s Xetra, the Swiss SIX exchange, and the Swiss Stock Exchange. According to the release, the crypto ETPs will be available on Euronext’s pan-European market in Amsterdam and Paris on Thursday.

The ETPs intended to give European investors another way to obtain exposure to the prices of Solana, Cardano, and Polkadot through regulated exchanges. SOLW, ADAW, and DOTW are available in Austria, Belgium, Denmark, Finland, France, Germany, and Italy. In addition to Ireland, Luxembourg, Netherlands, Norway, Poland, Spain, Sweden, and Switzerland, with a total expense ratio of 0.95%.

Altcoins are becoming feasible possibilities

The new ETPs complement WisdomTree’s growing crypto asset product offering in Europe. This includes the WisdomTree Crypto Mega Cap Equal Weight ETP. Which backed by physical assets like Bitcoin (BTC) and Ether (ETH). As well as the WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoins ETPs (WALT).

The new service, according to WisdomTree’s president of Europe Alexis Marinof, intends to address the growing demand from institutional investors to diversify their crypto portfolios, stating:

“Altcoins are becoming feasible possibilities for many institutional investors. Allowing more opportunities to diversify their crypto holdings much like any other asset class.”

WisdomTree has been actively developing ETPs in Europe, as previously reported, despite regulatory challenges in the United States. After delaying a judgement on WisdomTree’s spot Bitcoin ETF many times, the US SEC rejected it in late 2021. Following that, the firm revised its spot BTC ETF filing, naming U.S. Bank as its BTC trust’s custodian.

US firm WisdomTree lists crypto ETP on Euronext

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