Asset manager WisdonTreees announced the listing of Ethereum exchange-traded products (ETP) on the Swiss and German stock exchanges.
The new ETP will trade with the ticker “ETHW” and will track the spot price of Ethereum (ETH). The physically-backed ETP also has an expense ratio of 0.95%, according to WisdomTree. This is coming barely a month after ETC Group and 21Shares listed Ethereum-backed ETP in Germany.
WisdomTree listed Bitcoin (BTC) ETP last month
WisdomTree initially listed Bitcoin (BTC) ETP in Frankfurt last month and is following that up with the listing of Ethereum ETP.
Like the recently listed Bitcoin ETP, the Ethereum ETP will offer Ethereum exposure to investors who don’t intend to own their private keys or hold crypto directly.
Some investors love to gain more exposure to crypto assets, but the risk of holding such assets is holding them back. But the launch of ETH ETP intends to capture the attention of these types of investors.
WisdonTree has also applied to list a Bitcoin ETP in the U.S, although the Securities and Exchange Commission (SEC) is still reviewing the application. It’s not known whether the company will be granted a license, but its launch in Switzerland and Germany will be very exciting to users.
Providing lowest physically-backed ETH in Europe
WisdomTree is headquartered in New York and sponsors exchange-traded products. The company has about $73 billion in assets under management (AUM).
The company said the intention is to offer a cost-effective, simple, and secure way for people to gain exposure to the price of ETH.
Head of Capital Markets and Digital Assets at WisdomTree Europe Ltd Jason Guthrie commented on the ETH
