WisdomTree, the sponsor of the exchange traded product, is expanding its range of digital assets with the launch of a physically backed ether ETP.

The WisdomTree Ethereum ETP (ETHW) is listed today (April 29) on Börse Xetra and SIX, the Swiss stock exchange.

WisdomTree says it now offers the cheapest ETP ethers and bitcoin in Europe, both with a 0.95% total spend ratio and passport across the European Union.

WisdomTree Ethereum offers investors a simple, secure, and cost-effective way to gain exposure to the price of Ether, the native currency of the Ethereum network, while using the best of traditional financial infrastructure and product structuring.

ETHW is a top-notch ETP, complementing our market-leading Bitcoin ETP, and launched at a time when interest in digital assets is at its peak. ”

ETP allows investors to access ether without the need to directly own the cryptocurrency, store private access keys, or interact in any way with the blockchain or infrastructure of digital currency.

Investors also have access to institutional grade storage solutions without having to configure them themselves with a custodian. ETP is the preferred structure for institutional investors who allocate to digital assets because it fits perfectly into current portfolio management structures.

Jason Guthrie, Head of Financial Markets and Digital Assets, said: “The expansion of our digital asset portfolio is a significant milestone and further demonstrates our commitment to providing innovative digital asset solutions for institutional investors.

“ETHW is the best-in-class ETP, complementing our market-leading Bitcoin ETP, and launched at a time when interest in digital assets is at an all-time high. With this growing popularity, institutional investors are doing their due diligence on most liquid cryptocurrencies and we expect the pace of adoption of these to accelerate as the opportunity for digital assets becomes more compelling. ”

ETHW’s launch represents the latest development of WisdomTree’s digital asset platform and follows WisdomTree Bitcoin’s (BTCW) passport to Europe and its listing on Börse Xetra. WisdomTree also appointed Coinbase, in March 2021, as the second custodian of WisdomTree Bitcoin. ETHW also relies on this multiple custodian approach, providing the security investors have come to expect from WisdomTree ETPs.

In addition to institutional-class custody solutions for investors, the ETP wrapper has added new dimensions to the cryptocurrency universe, such as more liquid and transparent transactions and more sophisticated market players entering the market. arena of these products. The multi-custodian model will provide improved connectivity between WisdomTree and the broader cryptocurrency market, potentially providing greater liquidity for the underlying digital currency.

Today’s launch of WisdomTree Ethereum draws on WisdomTree’s tradition of innovation and leverages the company’s deep expertise in physically supported FTEs. Investors in WisdomTree Ethereum will be entitled to an amount of Ether. Investors will be able to view the coin entitlement for each share and the total amount of ether retained, corresponding to the total coin entitlement, on the WisdomTree website.

Alexis Marinof, Europe Manager of WisdomTree, added: “Since launching our first digital asset ETP, we have seen the level of interest from institutional investors increase dramatically. The asset class is still in its infancy but 2020 has been an important year for the asset. Institutional and class investors are waking up to the potential that digital assets can bring to portfolios as a diversifier. Our digital asset platform grows alongside institutional demand. By adding ETHW to our lineup, we now have the products and research capabilities they need to consider making their first allocations to digital assets or looking to diversify their exposures. “

Jonathan Steinberg, CEO of WisdomTree, concluded: “Our digital assets initiative strengthens and expands our core strengths while reflecting what we see as the future of investment management. The latest developments on our digital asset platform position us well for success and reflect our commitment to this ever-evolving asset class that is quickly becoming a priority for institutional investors around the world. “

WisdomTree Ethereum has a passport in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Spain and Sweden.