WisdomTree Launches Three New Crypto ETPs Tracking Solana, Cardano, Polkadot

WisdomTree, a New York-based exchange-traded fund (ETF) sponsor and asset management firm, announced this week the launch of three new crypto ETPs. They will track the performance of Solana (SOL), Cardano (ADA), and Polkadot (DOT).

WisdomTree Launches New Crypto ETPs

According to the official announcement, the new ETPs dubbed WisdomTree Solana (SOLW), WisdomTree Cardano (ADAW), and WisdomTree Polkadot (DOTW) will give investors exposure to the prices of the underlying crypto assets. In addition, the three ETPs have the potential to offer staking rewards to investors.

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 has now launched a total of eight crypto products. These include WisdomTree Bitcoin (BTCW), WisdomTree Ethereum (ETHW), WisdomTree Crypto Altcoins (WALT), WisdomTree Crypto Market (BLOC), and WisdomTree Crypto Mega Cap Equal Weight ETPs (MEGA).

Crypto ETP Will Help Drive Adoption

Jason Guthrie, Head of Digital Assets, Europe, WisdomTree, noted that the ETPs will help drive institutional adoption of cryptocurrencies. As such, the firm will continue to expand its product offerings to make it easier for investors to gain crypto exposure.

“We want to provide investors with a range of crypto asset exposures, whether that be through diversified baskets or single trackers. A key component to our approach is launching strategies which will resonate with institutional investors. 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.

Crypto ETPs are becoming more and more popular, especially in Europe. Just last week, Fidelity International listed new Bitcoin ETPs on the SIX Swiss stock exchange.

In February, the Swiss-based investment firm and issuer of crypto ETPs, 21Shares, listed three ETPs on Euronext in Paris and Amsterdam.