Wisdomtree Launches 3 Crypto ETPs Offering Exposure to Solana, Cardano, Polkadot – Wisdomtree, a fund manager, announced the debut of three crypto asset exchange-traded products on Tuesday (ETPs). The new crypto investment products are now listed on SIX, Börse Xetra, and the Swiss Stock Exchange, and are linked to the cryptocurrency networks Cardano, Solana, and Polkadot.
Wisdomtree has launched three new digital currency exchange traded products (ETPs), all of which are backed by cryptocurrencies. Wisdomtree Cardano (ADAW), Wisdomtree Solana (SOLW), and Wisdomtree Polkadot are among the new funds announced by Wisdomtree on Tuesday (DOTW). All three digital currencies are now ranked among the top 20 highest crypto market capitalizations in the world.
The three crypto ETPs will be listed on Euronext exchanges in Amsterdam and Paris on March 31, according to the fund management. “The ETPs have a total expense ratio (TER) of 0.95 percent, currently the lowest fees for ETPs enabling access to these altcoins in Europe, and are passported for sale across the European Union,” according to Wisdomtree’s press release.
The fund manager’s announcement of the ETP’s launch detailed:
“The ETPs are designed to provide investors with an easy, secure, and cost-effective option to obtain exposure to Cardano, solana, and polkadot prices.” Wisdomtree’s diversified crypto asset basket ETPs can also help investors obtain exposure to certain crypto assets.
As demand and interest for digital asset investment vehicles has expanded dramatically in recent years, a slew of crypto ETPs have been introduced. Crypto exchange-traded products are available from companies such as Van Eck, Amun AG, Ficas, and Grayscale.
“We want to provide investors with a variety of crypto asset exposures, whether through diversified baskets or single trackers,” said Jason Guthrie, Wisdomtree Europe’s head of digital assets. One of the most important aspects of our strategy is releasing strategies that will appeal to institutional investors.”
The Wisdomtree executive went on to say:
“These crypto assets must be liquid enough for institutional use, have clear use cases, and be backed by ETP market players. The ETP ecosystem, which is required for institutional adoption, will evolve together with the crypto asset market. We will continue to improve and grow our product line, assisting investors on their crypto asset journey.”
Solana (SOL) has gained 25.5 percent against the US dollar in the last week, while cardano (ADA) has gained 33 percent. Polkadot (DOT) has similarly risen in value during the last week, rising 19.9% in the last seven days.
Cardano is the third-largest smart contract platform coin by market capitalization, with a market cap of $39.3 billion. SOL is the fifth-largest smart contract platform currency by market capitalization, whereas DOT is currently in seventh place.