WisdomTree Launches a Physically-Backed Ethereum ETP in Europe

WisdomTree Investments, a NY-based fund manager, has launched a physically-backed Ethereum ETP on two European stock exchanges through its local subsidiaries. This becomes the organization’s second crypto-related ETP released in the past month, after an exchange-traded product following the performance of Bitcoin.

WisdomTree’s ETH ETP Live in Europe

Headquartered in New York, WisdomTree Investments is an exchange-traded fund and exchange-traded product sponsor, and an asset manager. The firm, with roughly $73 billion in AUM globally, announced the release of its Ethereum ETP earlier this week.

The product is already live on Germany’s Börse Xetra and Switzerland’s SIX Stock Exchange under the ticker ETHW. WisdomTree outlined the benefits of its Ethereum ETP, including providing investors with a “simple, secure, and cost-efficient way to gain exposure to the price of ether, the native currency of the Ethereum network.”

Additionally, ETHW enables investors to receive exposure to the second-largest digital token “without the need to hold the cryptocurrency directly, store private access keys or interact with the blockchain or digital currency infrastructure in any way.”

Earlier in April, WisdomTree launched its first-ever exchange-traded product in Europe – Bitcoin ETP.

Commenting on the expansion with ETHW now, Jason Guthrie, Head of Capital Markets and Digital Assets, called it a “significant milestone,” which “further demonstrates our commitment to delivering innovative digital asset solutions for institutional investors.”

The company argued that it now “offers the lowest priced physically-backed ether and bitcoin ETPs in Europe, both with a total expense ratio of 0.95% and passported across the European Union.”

It’s worth noting that the largest US-based crypto exchange Coinbase will serve as the custodian for both WisdomTree ETPs.

The List of Ethereum ETPs in Europe Grows

The WisdomTree Ethereum ETP comes a few months after CoinShares launched its own exchange-traded product in Europe following the performance of ether. One of the largest digital asset managers on the Old Continent released its version under the ticker ETHE with $75 million in AUM.

Interestingly, ETHE also trades on Switzerland’s primary stock exchange, but not on the Börse Xetra. CoinShares’ Ethereum ETP is also physically-backed as each unit of ETHE represents 0.03 ether tokens.