The company's head of Europe, Alexis Marinof, noted that WisdomTree is evolving with its new ETPs.
Fund management company WisdomTree Investments has enhanced its crypto offering by listing three exchange-traded products (ETPs). The management company has listed the crypto basket trip ETP on the Swiss exchange SIX and the Frankfurt-based Borse Xetra. The three ETPs are WisdomTree Crypto Altcoins (WALT), WisdomTree Crypto Market (BLOC), and WisdomTree Crypto Mega Cap Equal Weight (MEGA). All three ETPs are listed on SIX and Deutsche Boerse and are physically backed.
WisdomTree ETP
The BLOCK gives exposure to established crypto-currencies with huge market valuations. Crypto assets in these categories hold around 70% of the total crypto market capitalization. These include Bitcoin (BTC), Ehreum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). However, to avoid overexposure to BTC and ETH, the combined allocation to both is capped at 75%. BLOC gives broad exposure to liquid and established en#d in the crypto market. BLOC's other underlying assets are Polkadot (DOT), Solana (SOL) and Cardano (ADA). The maximum individual composition of BLOC assets is 45%.
On the other hand, WALT excludes major cryptos such as Bitcoin or Ethereum. Instead, it focuses on altcoins, including Bitcoin Cash (BCH), Litecoin (LTC), Polkadot (DOT), Cardano (ADA) and Solana (SOL). The individual coins have a maximum weighting of 50%.
In addition, MEGA only includes Bitcoin and Ethereum as the two "mega cap" assets in the market.
WisdomTree's Head of Digital Assets for Europe, Jason Guthrie, spoke about this new and growing asset class. He said the company is confident in the power of the new asset class, which has surged to $2.6 trillion in assets under management.
"As it inevitably continues to grow in importance, institutions need an increasingly sophisticated set of tools to enable them to offer their clients effective and efficient access to the crypto-asset markets," he said.
Speaking about the need for toolkits for institutions, the executive said, "that's exactly what we've developed here. According to Guthrie, the basket of institutional-grade ETPs that WisdomTree has listed will enable investors to access "diversified exposure to crypto-currency markets and, more broadly, to participate in the potential growth of the decentralized economy, including native crypto-currencies, payments, smart contracts, DeFi and NFTs."
WisdomTree evolves with new offerings
Elsewhere, the company's head of Europe, Alexis Marinof, noted that WisdomTree is evolving with its new FTEs.
"We are evolving our offering and building a proposition that is built around the customer and innovation. By leveraging our heritage of innovation, we're able to offer exposures that investors can't find elsewhere in an ETP wrapper."
After asset manager VanEck, WisdomTree was the second to apply for an Ether-based exchange-traded fund. According to the SEC filing, the proposal was to allow WisdomTree Ethereum Trust to list on the Cboe BZX exchange. The proposal also sought to list shares in the proposed Bitcoin ETF.
Recently, the company hired John Davidson as its new Global Head of Financial Crimes. Davidson's role is to oversee anti-money laundering (AML) and regulatory compliance.
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