A few days ago WisdomTree announced a new Ethereum ETP launched on the SIX and Xetra exchanges.
WisdomTree Investments is a New York-based ETF and ETP asset manager with approximately $72.9 billion in assets under management, and offers products ranging from equities, commodities, currencies and more.
It has recently expanded the range of products it offers by adding an ETP backed by physical ETH.
It is simply called WisdomTree Ethereum ETP (ETHW), and is listed today on the German Xetra and Swiss SIX exchanges.
This allows European investors to use a simple, secure and cost-effective way to gain exposure to the Ether price, without the need to directly hold the cryptocurrency, or store private keys.
WisdomTree: ETPs are the future of investing
WisdomTree’s Head of Capital Markets and Digital Assets, Jason Guthrie, said:
“The expansion of our digital assets range is a significant milestone and further demonstrates our commitment to delivering innovative digital asset solutions for institutional investors. ETHW is a best-in-class ETP, complementing our market leading bitcoin ETP, and launched at a time when interest in digital assets is at its highest. With this increase in popularity, institutional investors are doing their due diligence on the most liquid cryptocurrencies and we expect the pace of adoption across these to ramp up as the opportunity in digital assets becomes more compelling”.
In fact, the WisdomTree Bitcoin (BTCW) ETP was previously launched on the Börse Xetra, with Coinbase as the second custodian.
The CEO of WisdomTree, Jonathan Steinberg, added:
“Our digital assets initiative reinforces and expands upon our core business strengths while reflecting what we see as the future of investment management. The latest developments across our digital assets platform position us well for success and reflect our commitment to this evolving asset class which is quickly becoming top of mind for institutional investors globally”.
ETPs and ETFs that provide exposure to cryptocurrency prices are beginning to proliferate around the world, and the SEC’s determination to prevent them from being launched in the U.S. markets is becoming increasingly bizarre.