Asset manager WisdonTree has announced the listing of its exchange-traded product (ETP) of Ethereum on the Swiss and German exchanges.
The new ETP will trade with the ticker “ETHW” and will follow the Ethereum (ETH) spot price. According to WisdomTree, the physically secured ETP also has an expense ratio of 0.95%. This will happen just a month after ETC Group and 21Shares listed the Ethereum-backed ETP in Germany.
WisdomTree listed a Bitcoin (BTC) ETP last month
WisdomTree initially listed the Bitcoin (BTC) ETP in Frankfurt last month and is following it with the Ethereum ETP listing.
Like the recently listed Bitcoin ETP, the Ethereum ETP will offer exposure to Ethereum to investors who do not intend to own their own private keys or directly hold the cryptocurrencies.
Some investors like to get more exposure to crypto assets, but the risk of holding those assets holds them back. But the launch of ETP do ETH is intended to grab the attention of these types of investors.
WisdonTree also asked to list a Bitcoin ETP in the United States, although the Securities and Exchange Commission (SEC) is still examining the application. It is not known whether the company will be licensed, but its launch in Switzerland and Germany will be very attractive to users.
Provide the lowest supported ETH in Europe
WisdomTree is headquartered in New York and sponsors exchange-traded products. The company has approximately $ 73 billion in assets under management (AUM).
The company said the intention is to offer people a cheap, easy and safe way to gain exposure to the price of ETH.
Jason Guthrie, Head of Capital Markets and Digital Assets at WisdomTree Europe Ltd, commented on the launch of ETH’s ETP stating that WisdomTree now provides the lowest physical backing Bitcoin and Ether ETPs in Europe.
Guthrie said the company has passed a “significant milestone” that shows its commitment to “providing innovative digital asset solutions for institutional investors.”