WisdomTree, a financial services provider, has launched a new set of crypto exchange-traded products (ETPs) in the European market.
According to a press release, new ETPs covering Solana (SOL), Cardano (ADA), and Polkadot (DOT) debuted on the Swiss stock exchanges SIX and Börse Xetra on Tuesday. At the end of the month, Euronext exchanges in Paris and Amsterdam will add them.
Crypto ETPs are well-known investment platforms that provide easy access to cryptocurrencies. They’re common in Europe, where regulators are moving more quickly on crypto goods. WisdomTree and other issuers such as VanEck and 21Shares have all introduced crypto ETPs in Europe, in addition to the standard bitcoin (BTC) and ether (ETH) offerings (ETH).
Meanwhile, crypto asset managers in the United States are still fighting to be the first bitcoin spot vehicle to be approved by the Securities and Exchange Commission (SEC). Last October, the SEC approved two bitcoin futures ETFs with cash settlements.
“A key component to our approach is launching strategies which will resonate with institutional investors,” WisdomTree Head of Digital Assets for Europe Jason Guthrie said in a statement.
Competition has lowered crypto ETP costs (WisdomTree’s 0.95 percent is among the lowest), but it has also pushed issuers to innovate. Last week, FTX and CoinShares announced they were working on the “first” Solana ETP, which would return a percentage of staking profits to investors.