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Wisdom Tree Launches Physically Backed Bitcoin and Ether ETP

Wisdom Tree Launches Physically Backed Bitcoin and Ether ETP
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WisdomTree Investments, a New York-based exchange-traded fund (ETF), and exchange-traded product(ETP) sponsor has launched two cryptos ETPs in the form of physically-backed Bitcoin and Ether ETPs. The two cryptos ETPs were launched on Euronext exchanges.

Jason Guthrie, Head of Digital Assets, Europe, WisdomTree, says: “Listing on Euronext opens up more access points for investors to conveniently allocate to, and trade, both BTCW, and ETHW. Since we launched our digital assets platform in 2019, we have seen a lot of development in the space.

The newly launched crypto products would offer institutional investors to gain Bitcoin and Ether exposure through traditional exchanges. The new products offer Europe’s lowest price physically-backed crypto ETPs.

The demand for crypto-based traditional investment vehicles has surged across the world this bull season as institutions have joined on the Bitcoin bandwagon. Apart from the latest crypto ETPs offering in Europe, many Bitcoin and Ether ETFs have been launched in North America. Purpose Group became the world’s first firm to offer Bitcoin ETF, following which several other asset management firms including Galaxy Digital also launched Bitcoin and Ether ETFs on Canada Stock Exchange.

WisdomTree has filed for Bitcoin ETF in the US as well

The New-York based ETF and ETP sponsor has also filed with the US Securities and Exchange Commission (SEC) to launch a physically-backed Bitcoin ETF in the United States. The SEC is yet to offer any verdict in more than 8 Bitcoin ETF applications pending before the regulatory body. In April SEC postponed its decision on the VanEck ETF proposal by a couple of months.

Many are hopeful that a change in administration in the form of Gary Gensler heading the SEC and looking at the growing demand of Bitcoin and Ether among institutions, the chief regulatory body might approve the first Bitcoin ETF in the US.

The post Wisdom Tree Launches Physically Backed Bitcoin and Ether ETP appeared first on Coingape.


Source: Coingape


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