WisdomTree, an exchange traded fund ("ETF") and exchange traded
product ("ETP") sponsor, has announced its physically-backed1
Bitcoin ETP has listed on Germany’s Börse Xetra. The WisdomTree
Bitcoin ETP has a total expense ratio of 0.95% and is already
listed on SIX, the Swiss Stock Exchange.
The listing of the WisdomTree Bitcoin ETP on
Börse Xetra follows approval from the Swedish regulator to
distribute this ETP across the European Union (EU).
Alexis Marinof, Head of Europe,
WisdomTree, said: “Passporting WisdomTree Bitcoin in the
EU was the ambition since we decided to launch a cryptocurrency
ETP, and the evolving regulatory landscape has made this possible.
The move represents an important milestone for our best-in-class
product and one which will resonate with institutional investors
concerned about the lack of EU-listed crypto ETPs and high fees
associated with previous options. Our goal is to be the leader in
crypto ETPs. We are in constant dialogue with clients and
evaluating opportunities to build on WisdomTree Bitcoin and develop
a suite of best-in-class products which leverage our heritage and
expertise in physically-backed ETPs.”
The WisdomTree Bitcoin ETP provides investors
with a simple, secure and cost-efficient way to gain exposure to
the most liquid and popular cryptocurrency, Bitcoin. The ETP allows
investors to access Bitcoin without the need to hold the
cryptocurrency directly, store private access keys or interact with
the blockchain or digital currency infrastructure in any way.
Investors also receive access to institutional grade storage
solutions without needing to set it up with a custodian
themselves.
In March, WisdomTree announced the appointment
of Coinbase Custody as a custodian for the WisdomTree Bitcoin ETP.
The appointment highlights the ongoing commitment to delivering the
safety and robustness investors have come to expect from WisdomTree
ETPs. Coinbase Custody offers access to a secure,
institutional-grade offline storage solution built around a
proprietary, best-in-class key generation protocol which generates
cold storage addresses for Custody wallets. The move complements
the existing custody solution for the WisdomTree Bitcoin ETP
provided by Swissquote, a regulated and listed Swiss bank.
WisdomTree Bitcoin has over $380m2 in assets
under management and achieved its one-year track record in December
2020.
Jason Guthrie, Head of Capital Markets
and Digital Assets, Europe, WisdomTree, added: “Since
launching WisdomTree Bitcoin, institutional interest in
cryptocurrencies, particularly Bitcoin, has grown significantly. As
a new asset class, gaining credibility from institutional investors
was never going to happen overnight. With Bitcoin passing $1tn in
market cap many institutional investors have started to acknowledge
cryptocurrencies are here to stay and are doing their due diligence
as they consider making allocations to digital assets. The Xetra
listing, along with the recent appointment of Coinbase Custody as
our second custodian, will appeal to a wide range of professional
investors and demonstrates our commitment to delivering a superior
investment experience to those allocating to our Bitcoin ETP.”
Bitcoin has become a hot investment topic,
growing in popularity amongst professional investors in 2020 and
2021. A maturing market ecosystem, positive news from corporations
and significant price increases have helped improve sentiment
prompting investment managers to take a closer look at the asset
class.
Jonathan Steinberg, CEO, WisdomTree,
concluded: “We believe WisdomTree Bitcoin is the most
investor-friendly Bitcoin ETP in the market, and we are thrilled to
bring this ETP to more investors through its listing on Xetra. The
growth of Bitcoin over the past 12 months reinforces our view that
Bitcoin, digital assets, and blockchain technology will be
increasingly important in financial services going forward. This
announcement demonstrates our continued investment in this space to
deliver value for our clients.”
WisdomTree Bitcoin is now passported in Austria, Belgium,
Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg,
Netherlands, Norway, Spain and Sweden.
For further information, please contact:Jessica
Zaloom, Head of Corporate Communications and Public Relations, +1
917 267 3735 / JZaloom@wisdomtree.comArran Fano, PR and
Communications, +44 20 7448 4336 / AFano@WisdomTree.com
About WisdomTree
WisdomTree Investments, Inc., through its subsidiaries in the
U.S. and Europe (collectively, “WisdomTree”), is an exchange-traded
fund (“ETF”) and exchange-traded product (“ETP”) sponsor and asset
manager headquartered in New York. WisdomTree offers products
covering equities, commodities, fixed income, leveraged and
inverse, currencies, and alternative strategies. WisdomTree
currently has approximately $70.9 billion in assets under
management globally.
WisdomTree® is the marketing name for WisdomTree Investments,
Inc. and its subsidiaries worldwide.
IMPORTANT INFORMATION
Communications issued in the European
Economic Area (“EEA”): This document has been issued and
approved by WisdomTree Ireland Limited, which is authorised and
regulated by the Central Bank of Ireland.
Communications issued in jurisdictions
outside of the EEA: This document has been issued and
approved by WisdomTree UK Limited, which is authorised and
regulated by the United Kingdom Financial Conduct Authority.
WisdomTree Ireland Limited and WisdomTree UK
Limited are each referred to as “WisdomTree” (as applicable). Our
Conflicts of Interest Policy and Inventory are available on
request.
For professional clients only. Past performance is not a
reliable indicator of future performance. Any historical
performance included in this document may be based on back testing.
Back testing is the process of evaluating an investment strategy by
applying it to historical data to simulate what the performance of
such strategy would have been. Back tested performance is purely
hypothetical and is provided in this document solely for
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affected by exchange rate movements. Any decision to invest should
be based on the information contained in the appropriate prospectus
and after seeking independent investment, tax and legal advice.
These products may not be available in your market or suitable for
you. The content of this document does not constitute investment
advice nor an offer for sale nor a solicitation of an offer to buy
any product or make any investment.
An investment in exchange-traded products (“ETPs”) is dependent
on the performance of the underlying index, less costs, but it is
not expected to match that performance precisely. ETPs involve
numerous risks including among others, general market risks
relating to the relevant underlying index, credit risks on the
provider of index swaps utilised in the ETP, exchange rate risks,
interest rate risks, inflationary risks, liquidity risks and legal
and regulatory risks.
The information contained in this document is not, and under no
circumstances is to be construed as, an advertisement or any other
step in furtherance of a public offering of shares in the United
States or any province or territory thereof, where none of the
issuers or their products are authorised or registered for
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This document may contain independent market
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This document may contain forward looking statements including
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The product discussed in this document is issued by WisdomTree
Issuer X Limited (the “Issuer”). Investors should read the
prospectus of the Issuer before investing and should refer to the
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Securities issued by the Issuer are direct, limited recourse
obligations of the Issuer alone and are not obligations of or
guaranteed by any of Swissquote Bank Ltd (“Swissquote”), Coinbase
Custody Trust Company LLC (“Coinbase”), any of their affiliates or
anyone else or any of their affiliates. Each of Swissquote and
Coinbase disclaims all and any liability whether arising in tort,
contract or otherwise which it might have in respect of this
document or its contents otherwise arising in connection
herewith.
The product discussed in this document is an unregulated
ETP, approved to trade on the SIX Swiss Exchange in Switzerland.
Cryptocurrencies are a high-risk investment and may not be suitable
for all types of investor. Prospective investors should be aware
that the price of the underlying asset(s) by which the securities
are secured can demonstrate higher volatility than other asset
classes and consequently the value of the securities may be
extremely volatile. You must ensure that the nature, complexity and
risks associated with cryptocurrencies are suitable for your
objectives in light of your circumstances and financial
position.
1 The physically-backed ETP will track the spot price of
Bitcoin, with WisdomTree purchasing Bitcoin and creating smaller
sized shares, which can then be traded and redeemed on
exchange.2 As of 12 April 2021.
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