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US firm WisdomTree lists crypto ETP on Euronext

The US-based investment firm has listed their crypto exchange traded fund (ETF) on the Euronext stock market. The company is taking advantage of a new European Commission proposal that would allow for greater trading among different countries in order to create “a true EU Single Market” and make it easier for investors who want to diversify with cryptocurrencies.

“The future of cryptocurrency 2021” is a new financial product from WisdomTree, which will be listed on the Euronext exchange. This product includes four cryptocurrencies: Bitcoin, Ethereum, Ripple and Litecoin.

 

Asset management WisdomTree has received another listing for its crypto basket exchange-traded vehicle, indicating that businesses located in the United States are increasingly listing cryptocurrency-based financial products in Europe (ETP).

WisdomTree’s Crypto Mega Cap Equal Weight ETP was launched on the Euronext markets in Paris and Amsterdam on December 2.

The investment instrument, which trades under the ticker code MEGA, is backed by actual crypto assets such as Bitcoin (BTC) and Ether (ETH), with a quarterly rebalancing. MEGA was first listed on Deutsche Boerse’s digital market Xetra and the Swiss SIX exchange in November 2021.

WisdomTree just introduced two new crypto ETPs, WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoin, in addition to MEGA (WALT).

BTC, Ether, Cardano (ADA), Bitcoin Cash (BCH), and other crypto assets are included in the BLOC portfolio, which accounts for 70% of the crypto market cap. WALT was created for investors who already have exposure to the mega-cap currencies and gives exposure to significant coins except BTC and ETH. In late November 2021, both ETPs made their debut on the Boerse Xetra and SIX exchanges.

Invesco has launched a spot Bitcoin ETP on the Deutsche Borse.

Due to regulatory challenges in the United States, US asset managers are increasingly launching their crypto investment products in Europe. Despite the fact that the Securities and Exchange Commission (SEC) has authorized a number of BTC futures-based exchange traded funds (ETFs) since October, US investors have yet to see a spot BTC ETF.

After filing for the investment product in March, the SEC postponed its decision on Wisdom Tree’s Bitcoin ETF, requesting public comment in July 2021.

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