Altcoins are now viable options for many institutional investors

 

ETF provider WisdomTree launches Solana, Cardano, Polkadot ETPs

. WisdomTree has launched multiple crypto ETPs in Europe and continues sweats to launch a spot Bitcoin ETF in the United States.

The American exchange- traded fund (ETF) provider WisdomTree continues expanding its cryptocurrency products in Europe by launching three new crypto exchange- traded products (ETP) backed by Solana (SOL), Cardano (ADA) and Polkadot (DOT).

WisdomTree blazoned Tuesday the launch of three new physically- backed crypto ETPs, including WisdomTree Solana (SOLW), WisdomTree Cardano (ADAW) and WisdomTree Polkadot (DOTW).

The ETPs are formerly listed on major European digital exchanges like Deutsche Boerse’s Xetra, the Swiss SIX exchange and the Swiss Stock Exchange. Thepan-European exchange Euronext is anticipated to list the crypto ETPs in Amsterdam and Paris on Thursday, the advertisement notes.

The ETPs are designed to offer investors in Europe another option to gain exposure to the price of Solana, Cardano and Polkadot via regulated exchanges. SOLW, ADAW and DOTW have a total expenditure rate of0.95 and are available for trade in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Spain, Sweden and Switzerland.

The new ETPs follow the growing crypto asset product immolation by WisdomTree in Europe, joining products like WisdomTree Crypto Mega Cap Equal Weight ETP, which is backed by physical means including Bitcoin (BTC) and Ether (ETH), as well as WisdomTree Crypto Market ( BLOC) and WisdomTree Crypto Altcoins (WALT).

WisdomTree’s head of Europe Alexis Marinof said that the new immolation aims to meet the growing demand from institutional investors to diversify their crypto portfolio, stating

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While bitcoin and Ethereum snare the captions, altcoins are now feasible options for numerous institutional investors, furnishing further options to diversify their crypto effects just like they would with any other asset class.

As preliminarily reported by Cointelegraph, WisdomTree has been laboriously launching ETPs in Europe amid nonsupervisory hurdles in the United States.

 In late 2021, theU.S. Securities and Exchange Commission rejected WisdomTree’s spot Bitcoin ETF after delaying a decision on the product multiple times. The establishment latterly amended its spot BTC ETF form, namingU.S. Bank as a custodian for its BTC trust.