WisdomTree Lists Physically Backed Bitcoin and Ethereum ETPs on London Stock Exchange
Tuesday 28th May '24
ETPs approved for exchange listing, by the London Stock Exchange, for sales to professional investors
WisdomTree, a global financial innovator, has today listed the WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW) ETPs on the London Stock Exchange (LSE). The ETPs have a management expense ratio (MER) of 0.35%, representing one of the lowest fee levels for institutional-grade Bitcoin and Ethereum ETPs that are 100% backed by the underlying assets.
WisdomTree is amongst the first issuers to have crypto ETPs approved and listed on the LSE. The crypto ETPs listed on the LSE are currently only available to professional investors.
Alexis Marinof, Head of Europe, WisdomTree, said: “As an FCA-regulated business, we have more than 250 ETFs and ETPs listed on the LSE already. Listing our Bitcoin and Ethereum ETPs on the LSE is a natural evolution of our product offering and commitment to supporting UK investors, particularly with the asset class staking a bigger claim for a role in multi-asset portfolios. Interest in the asset class amongst European investors has significantly increased this year, in part due to a new fee environment for these ETPs and the launch of US spot bitcoin ETFs. We expect this development to be an inflection point for Crypto ETPs in the UK since it means professional investors now have a more convenient and locally-regulated access point with the familiar ETP wrapper.”
WisdomTree has $775m1 in assets under management across its institutional-grade crypto ETPs and is the flow leader amongst European crypto ETP issuers in 2024, with net inflows of $127m2.
In 2019, WisdomTree became the first established ETP issuer to provide European investors with institutional-grade physically backed crypto exposure, with the launch of the WisdomTree Physical Bitcoin ETP. Today, WisdomTree offers a thoughtfully curated range of eight physically backed crypto ETPs that provide a simple, secure and low-cost way to gain exposure to single coins, such as bitcoin and ether, and to diversified crypto baskets.
Marinof, added: “Our crypto ETP range leverages 20 years of proven expertise in providing and managing physically backed ETPs for institutional investors. This unparalleled knowledge and track record coupled with our diversified, robust, and scalable business with over $100Bn in assets under management globally allows us to offer institutional-grade crypto ETPs with highly competitive fees without compromising security or risk management.”
WisdomTree Physical Bitcoin is a physically backed ETP designed to offer shareholders a simple, secure and low cost way to gain exposure to the price of bitcoin. Launched in 2019, the ETP provides for easy investor access, tradability, transparency and institutional custody solutions within a robust physically backed structure.
WisdomTree Physical Ethereum is a physically backed ETP designed to offer shareholders a simple, secure and low cost way to gain exposure to the price of Ethereum. The ETP allows investors to access ether and receive staking rewards through a transparent and risk-managed approach providing staking yield to investors. Like all WisdomTree crypto ETPs, the WisdomTree Physical Ethereum ETP provides for easy investor access, tradability, transparency and institutional custody solutions within a robust physically backed structure.
WisdomTree’s European crypto ETPs are available for sale in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Poland, Netherlands, Norway, Spain, Sweden, Switzerland and the United Kingdom.
Product information
Definitions
ETPs = Exchange-traded products
Sources
1 Source: WisdomTree, as of 17 May
2 Source: WisdomTree, as of 17 May