In Europe, WisdomTree Launches Crypto ETPs for Solana, Cardano, and Polkadot

Other exchange-traded product (ETP) issuers are developing crypto-linked investment products that include staking returns.

In the European market, investment firm WisdomTree introduced another tranche of cryptocurrency exchange-traded products (ETPs).
According to a press release, new ETPs representing Solana (SOL), Cardano (ADA), and Polkadot (DOT) were listed on the Swiss stock exchanges SIX and Börse Xetra on Tuesday. They will be added to the Euronext exchanges in Paris and Amsterdam at the end of the month.

Crypto ETPs are popular investment instruments that provide easy access to cryptocurrencies. They are widely used in Europe, where regulators have moved more quickly to regulate crypto goods. WisdomTree and other issuers such as VanEck and 21Shares have all issued crypto ETPs in Europe that go beyond standard bitcoin (BTC) and ether offerings (ETH).

Meanwhile, in the United States, crypto asset managers continue to battle the Securities and Exchange Commission for approval of the first bitcoin spot vehicle (SEC). The SEC approved two exchange-traded funds (ETFs) with cash-settled bitcoin futures in October.

“A critical component of our strategy is developing strategies that appeal with institutional investors,” WisdomTree Europe Head of Digital Assets Jason Guthrie said in a statement.

Competition has reduced the cost of crypto ETPs (WisdomTree’s 0.95 percent is among the lowest), but it has also pushed issuers to innovate. FTX and CoinShares announced last week that they are developing “the first” Solana exchange-traded fund (ETF) that will return a percentage of staking rewards to investors.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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