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WisdomTree Adds Three New Crypto Products To Product Offering

Published 03/29/2022, 12:02 PM
Updated 03/29/2022, 12:30 PM
© Reuters WisdomTree Adds Three New Crypto Products To Product Offering

  • WisdomTree, an American exchange-traded fund (ETF) provider, adds three new products to its product range.
  • The announcement was made on Tuesday.
  • According to the announcement, the products are already listed on a number of European exchanges.

WisdomTree, an American exchange-traded fund (ETF) provider, continues with the expansion of its suite of cryptocurrency projects in Europe by launching three new cryptocurrency exchange-traded products (ETP), which are backed by Cardano (ADA), Solana (SOL), and Polkadot (DOT).

The ETF provider announced the launch of the three new products on Tuesday. The three new products will be called WisdomTree Solana (SOL), WidomTree Cardano (ADA), and WisdomTree Polkadot (DOT).

The ETPs are already listed on numerous major digital exchanges in Europe, including the Swiss SIX exchange Deutsche Boerse’s Xetra and the Swiss Stock Exchange. Another pending listing will take place on Thursday and will see the ETPs being listed in Paris and Amsterdam on Euronext, according to WisdomTree’s announcement.

The new ETPs follow WisdomTree’s growing product offering in Europe, and will join products like WisdomTree Crypto Mega Cap Equal Weight ETP, which is backed by assets such as Ether (ETH) and Bitcoin (BTC), as well as WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoins (WALT).

Alexis Marinof, who is WisdomTree’s head of Europe, said that the aim behind the new offerings is to meet the growing demand from institutional investors to diversify their cryptocurrency portfolio.

Marinof stated, “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.”

The ETPs should offer European investors another option to gain exposure to the price of Cardano, Polkadot, and Solana via regulated cryptocurrency exchanges.

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