ETF Provider WisdomTree Launched Cardano, Solana, Polkadot ETPs

The ETF Provider WisdomTree just launched multiple crypto ETPs in Europe and aims to launch a spot BTC ETF in the US as well, so let’s find out more in today’s latest cryptocurrency news.

The American ETF provider WisdomTree expanded its crypto products by launching three new crypto exchange-traded products backed by Cardano, Polkadot, and Solana. WisdomTree announced the launch of the three ETPs including WisdomTree Solana, WisdomTree Cardano, and WisdomTree Polkadot. The ETPs are listed on major EU digital exchanges like Deutsche Boerse’s Xetra, the Swiss SIX Exchange as well as the Swiss Stock Exchange. The Euronext exchange is expected to list the ETPs in Paris and Amsterdam as well.

The ETPs are designed to offer investors in the EU another option and gain exposure to the price of Solana, Polkadot, and Cardano via regulated exchanges. The three products have a total expense ratio of 0.95% and are available for sale in Belgium, Denmark, Austria, Finland, France, Italy, Germany, Luxembourg, Ireland, Netherlands, Poland, Spain, Norway, Sweden, and Switzerland. The new ETPs follow the growing crypto asset products offered by WisdomTree in Europe and joined products like Wisdomtree Crypto Mega Cap Equal weight which is backed by physical assets like ETH and BTC.

WisdomTree’s head of Europe Alexis Marinof said that the new offerings will meet the growing demand from institutional investors  that want to diversify their portfolios:

“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 was launching ETPs in Europe amid the regulatory issues in the US, and in late 2021, the US SEC rejected WisdomTree’s spot BTC ETF after delaying a decision on the product a few times. The company amended the spot BTC ETF filing and named the US Bank as a custodian for the BTC trust.
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Also, The US SEC extended its window to approve or disapprove spot BTC exchange-traded fund applications from the asset managers One River and WisdomTree. According to the seaprate filings, the SEC extends the windows for decision for allowing shares of WisdomTree Bitcoin Trust and One River Carbon Neutral Bitcoin Trust to be listed on the cBOE BZX Exchange and the New York Stock Exchange Arca.