PRESS ROOM
WisdomTree expands its range of cryptocurrency basket ETPs available on Euronext
Monday 14th February '22
WisdomTree, the exchange-traded fund ("ETF") and exchange-traded product ("ETP") sponsor, has today listed two of its crypto asset basket ETPs on Euronext exchanges in Amsterdam and Paris.
The WisdomTree Crypto Market (BLOC), and WisdomTree Crypto Altcoins (WALT), have a total expense ratio (TER) of 1.45% and are passported for sale across the European Union. The ETPs track proprietary indices developed by WisdomTree in collaboration with CF Benchmarks. WisdomTree’s entire crypto asset ETP range is now available via Euronext, following the listings in 2021 of WisdomTree Crypto Mega Cap Equal Weight (MEGA), WisdomTree Bitcoin (BTCW) and WisdomTree Ethereum (ETHW).
Jason Guthrie, Head of Digital Assets, Europe, WisdomTree said: “For institutional investors, allocating to crypto assets is becoming more viable by the day. Delivering effective and efficient tools for them to access the asset class is, however, increasingly important. Access points for European professional investors have been limited, but with our entire crypto assets ETP range listed in France, the Netherlands, Germany and Switzerland, investors have more avenues to gain access to the truly transformative technology underpinning crypto assets.”
WisdomTree Crypto Market (BLOC)
BLOC is a free-float market cap weighted ETP, providing exposure to a diversified basket of crypto assets representing circa 70% of the cryptocurrency market cap1. This product is designed for those looking for a broad exposure to the liquid, established end of the crypto market. The ETP’s underlying index is currently comprised of Bitcoin, Ethereum, Cardano, Bitcoin Cash, Litecoin, Polkadot and Solana. The ETP rebalances on an annual basis to capture the momentum of the digital asset ecosystem market as it grows. Due to the market cap of Bitcoin and Ethereum, the combined weighting of these crypto assets in the ETP is capped at 75%, with individual constituents capped at a max weighting of 45% and a minimum allocation of 2.5% per crypto asset.
WisdomTree Crypto Altcoins (WALT)
WALT is a free-float market cap weighted ETP providing exposure to a diversified basket of altcoins2. The ETP provides exposure to major coins excluding Bitcoin (BTC) and Ethereum (ETH) and was designed for investors who already have exposure to the mega cap coins (BTC & ETH) and want to diversify their exposure without changing their existing holdings. The ETP’s underlying index is currently comprised of Cardano, Bitcoin Cash, Litecoin, Polkadot and Solana. The ETP also rebalances on an annual basis to capture the momentum of the digital asset ecosystem market as it grows. Individual constituents are capped at a max weighting of 50% and a minimum allocation of 2.5% per crypto asset.
Through WisdomTree’s cryptocurrency ETPs, investors can conveniently access a range of crypto assets without the need to hold them directly, store private access keys or interact with the blockchain or digital currency infrastructure in any way. Investors also get access to institutional grade storage solutions without needing to set it up with a custodian themselves. To ensure the highest level of security, WisdomTree leverages regulated, institutional-grade digital currency custodians who maintain highly secure cold storage facilities.
Alexis Marinof, Head of Europe, WisdomTree, added: “We are relatively early in the development of cryptocurrencies as an asset class but are seeing positive developments in support of institutional adoption. There is now a thriving and innovative ecosystem being leveraged to deliver crypto asset ETPs with exchanges, market makers, custodian and other market participants building solutions to facilitate greater institutional adoption. Crypto assets are becoming a more interesting consideration for many investors and we could see them become a larger part of portfolios, as the ecosystem evolves, before too long.”
BLOC and WALT are passported for sale in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Spain, Sweden and Switzerland.
Product information
Listing Name |
TER |
Exchange |
Trading Ccy |
Exchange Code |
ISIN |
1.45% |
Euronext Paris |
EUR |
BLOC |
GB00BMTP1626 |
|
1.45% |
Euronext Amsterdam |
USD |
BLOC |
GB00BMTP1626 |
|
1.45% |
Euronext Paris |
EUR |
WALT |
GB00BMTP1519 |
|
1.45% |
Euronext Amsterdam |
USD |
WALT |
GB00BMTP1519 |
Find out more: https://www.wisdomtree.eu/en-gb/strategies/crypto-currency
Sources
1 Source: Coinmarketcap.com as of 07 February
2 Altcoins refer to crypto assets other than Bitcoin