The company’s head of Europe, Alexis Marinof, noted that WisdomTree is evolving with its new ETPs.
Fund management company WisdomTree Investments has enhanced its crypto offer by listing three exchange-traded products (ETPs). The management company listed the trip of crypto basket ETPs on the Swiss stock exchange SIX and Frankfurt-based Borse Xetra. The three ETPs are WisdomTree Crypto Altcoins (WALT), WisdomTree Crypto Market (BLOC), and WisdomTree Crypto Mega Cap Equal Weight (MEGA). The three ETPs are on SIX and Deutsche Boerse and are physically backed.
BLOC gives exposure to established cryptocurrencies with huge market valuations. The crypto assets under these categories own about 70% of the total crypto market cap. They include Bitcoin (BTC), Ehreum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC). However, to avoid overexposure to BTC and ETH, the combined allocation to the two is capped at 75%. BLOC gives broad exposure to liquid and established en#d of the crypto market. Other underlying assets for BLOC are Polkadot (DOT), Solana (SOL), and Cardano (ADA). The maximum individual constituent of BLOC assets is 45%
On the other hand, WALT excludes top cryptos like Bitcoin as Ethereum. Rather, it focuses on altcoins, including Bitcoin Cash (BCH), Litecoin (LTC), Polkadot (DOT), Cardano (ADA), and Solana (SOL). The individual coins are at a max weighting of 50%.
Furthermore, MEGA solely includes Bitcoin and Ethereum as the market’s two “mega cap” assets.
The head of digital assets, Europe, at WisdomTree, Jason Guthrie, spoke on the growing new asset class. He said the firm is confident in the power of the new asset class, which has surged to $2.6 trillion assets under management.
“As it inevitably continues to grow in prominence, institutions need an increasingly sophisticated tool kit to enable them to provide access effectively and efficiently to crypto-asset markets for their clients,” said he.
Speaking further on the need for tool kits for institutions, the executive said, “that is exactly what we have developed here. According to Guthrie, the institutional-grade basket ETPs WisdomTree listed will give investors access to “diversified exposure to crypto markets and, more broadly, participate in the potential growth of the decentralized economy including native cryptocurrencies, payments, smart contracts, DeFi and NFTs.”
WisdomTree Evolves with New Offerings
Also, the company’s head of Europe, Alexis Marinof, noted that WisdomTree is evolving with its new ETPs.
“We are evolving our offering and building a proposition that is built around the client and innovation. By leveraging our heritage of innovation we’re able to deliver exposures that investors are unable to find elsewhere in an ETP wrapper.”
After asset manager VanEck, WisdomTree was the second to apply for an Ether-based exchange-traded fund. According to the SEC filing, the proposal is to allow WisdomTree Ethereum Trust to list on Cboe BZX Exchange. Also, the proposal aimed to list shares of the proposed Bitcoin ETF.
Recently, the company employed John Davidson as its new global head of financial crimes. Davidson’s role is to monitor anti-money laundering (AML) and regulatory compliance.