Fund management company WisdomTree has launched a suite of cryptocurrency exchange-traded products focusing on Solana, Cardano, and Polkadot in the European market.
The offering will be listed on the Swiss stock exchange, Borse Xetra, with Euronext exchanges in Paris and Amsterdam, expected to list by the end of the month.
Wisdom Tree Head of Digital Assets for Europe, Jason Guthrie, notes that the firm’s focus was to introduce products targeting institutional clients.
Market competition has caused the Crypto ETP costs to drop, with Wisdom Tree’s currently at 0.95%, and has also spurred innovation.
The cryptocurrency futures market is gaining momentum, as the US asset managers move to launch the first bitcoin spot futures. The commission cleared two bitcoin futures ETFs last year.
Cryptocurrency exchange-traded products are financial instruments offering exposure to the asset class. VanEck and 21Shares have also launched crypto ETPs in the European market.