WisdomTree launches three new crypto ETPs that track Solana and Cardano as well as Polkadot

WisdomTree is a New York-based sponsor of exchange-traded funds (ETFs) and asset manager. This week, WisdomTree announced the launch three new crypto ETPs. They will track the performance Solana (SOL), Cardano(ADA), and Polkadot [DOT].

WisdomTree introduces new Crypto ETPs

According to official announcement, investors will have access to the prices of the underlying crypto assets through the WisdomTree Solana ETP (SOLW), WisdomTree Cardano ETP (ADAW), or WisdomTree Polkadot ETP (DOTW). Investors may also be eligible for staking bonuses through the ETPs.

SOLW, ADAW, and DOTW are already trading on Börse Xetra in Germany and SIX in Switzerland. WisdomTree also plans to list the three ETPs on Euronext exchanges in Paris and  Amsterdam by the end of March 2022.

The firm also noted that investors can access the three digital assets through its diversified crypto basket ETPs – WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoins (WALT).

WisdomTree currently offers eight cryptocurrency products. These include WisdomTree Bitcoin and WisdomTree Ethereum (ETHW), WisdomTree Crypto Altcoins, WALT, WisdomTree Crypto Markets (BLOC), WisdomTree Crypto Markets and WisdomTree Crypto Megacap ETPs with Equal Weight (MEGA).

Crypto ETP Will Drive Adoption

Jason Guthrie from WisdomTree’s Head of Digital Assets Europe noted that ETPs can help institutional adoption of cryptocurrency. To make it easier to get crypto exposure, the company will continue to increase its product offerings.

“We want to provide investors with a range of crypto asset exposures, whether that be through diversified baskets or single trackers. We want to launch strategies that will appeal to institutional investors as a key part of our approach. These need to be crypto assets which are liquid enough for institutional use, are supported by the ETP market participants and have clear use cases,” Guthrie added.

ETPs with crypto currency are growing in popularity, especially in Europe. Fidelity International recently listed new Bitcoin ETPs last week on the SIX Swiss Stock Exchange.

21Shares, a Swiss-based investment company and issuer crypto ETPs, listed three ETPs in Paris and Amsterdam on Euronext in February.

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