Asset manager WisdomTree has expanded its offering of crypto-based exchange-traded products (ETPs) with the launch of an Ethereum ETP (ETHW) on the Deutsche Borse’s XETRA market in Frankfurt.
The ETP, which will track the spot price of Ethereum, will also be listed on the Swiss stock exchange in Zurich and follows the launch of a Bitcoin ETP in Frankfurt by WisdomTree two weeks ago.
The group said the ETP will offer “the lowest priced” physically-backed Ethereum ETP in Europe with a total expense ratio of 0.95%.
“The expansion of our digital assets range is a significant milestone and further demonstrates our commitment to delivering innovative digital asset solutions for institutional investors. ETHW is a best-in-class ETP, complementing our market leading bitcoin ETP, and launched at a time when interest in digital assets is at its highest. With this increase in popularity, institutional investors are doing their due diligence on the most liquid cryptocurrencies and we expect the pace of adoption across these to ramp up as the opportunity in digital assets becomes more compelling”, WisdomTree’s head of capital markets and digital assets Jason Guthrie said in a statement.
“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 trading and more sophisticated market participants entering the arena for these products”, he added.
The launch of the Ethereum ETP comes as WisdomTree awaits a review of its application for a US-listed Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC).