WisdomTree, the exchange-traded fund ("ETF") and exchange-traded
product ("ETP") sponsor, has announced the expansion of its digital
assets range with the launch of a physically-backed1 ether ETP. The
WisdomTree Ethereum ETP (ETHW) listed today on Börse Xetra and SIX,
the Swiss Stock Exchange. WisdomTree 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.
WisdomTree Ethereum provides investors with a
simple, secure and cost-efficient way to gain exposure to the price
of ether, the native currency of the Ethereum network, while
utilising the best of traditional financial infrastructure and
product structuring. The ETP allows investors to access ether
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 get access to institutional grade
storage solutions without needing to set it up with a custodian
themselves. The ETP is the preferred structure for institutional
investors allocating to digital assets as it fits seamlessly within
current portfolio management structures.
Jason Guthrie, Head of Capital Markets
and Digital Assets, said: “The expansion of our digital
assets range is a significant milestone and further demonstrates
our commitment to delivering innovative digital asset solutions for
institutional investors. ETHW is a best-in-class ETP, complementing
our market leading bitcoin ETP, and launched at a time when
interest in digital assets is at its highest. With this increase in
popularity, institutional investors are doing their due diligence
on the most liquid cryptocurrencies and we expect the pace of
adoption across these to ramp up as the opportunity in digital
assets becomes more compelling.”
The launch of ETHW represents the latest
development for WisdomTree’s digital assets platform and follows
the passporting of WisdomTree Bitcoin (BTCW) into Europe and its
listing on Börse Xetra. WisdomTree also appointed Coinbase, in
March 2021, as a second custodian for WisdomTree Bitcoin. ETHW also
leverages this multiple custodian approach, delivering the safety
investors have come to expect from WisdomTree ETPs.
In addition to institutional class custody
solutions for investors, the ETP wrapper has added new dimensions
to the cryptocurrency universe, such as more liquid and transparent
trading and more sophisticated market participants entering the
arena for these products. The multi-custodian model will provide
enhanced connectivity between WisdomTree and the wider
cryptocurrency market, potentially providing greater liquidity for
the underlying digital currency.
Today’s launch of WisdomTree Ethereum taps into
WisdomTree’s tradition of innovation and leverages the firm’s deep
expertise in physically-backed ETPs. Investors in WisdomTree
Ethereum will have an entitlement to an amount of ether. Investors
will be able to view each share’s coin entitlement and the total
amount of ether secured in custody, corresponding to the total coin
entitlement, on WisdomTree’s website.
Alexis Marinof, Head of Europe,
WisdomTree, added: “Since launching our
first digital asset ETP we’ve seen the level of interest amongst
institutional investors grow significantly. The asset class is
still in its infancy but 2020 was an important year for the asset
class and institutional investors are waking up to the potential
digital assets can bring to portfolios as a diversifier. Our
digital assets platform is growing alongside institutional demand.
By adding ETHW to our range, we now have the products and research
capabilities to support institutional investors whether they are
considering making their first allocations to digital assets or
looking to diversify their exposures.”
Jonathan Steinberg, CEO, WisdomTree,
concluded: "Our digital assets initiative reinforces and
expands upon our core business strengths while reflecting what we
see as the future of investment management. The latest developments
across our digital assets platform position us well for success and
reflect our commitment to this evolving asset class which is
quickly becoming top of mind for institutional investors
globally.”
WisdomTree Ethereum is passported in Austria,
Belgium, Denmark, Finland, France, Germany, Italy, Ireland,
Luxembourg, Netherlands, Norway, Spain and Sweden.
Product information
Listing Name |
TER |
Exchange |
Trading Ccy |
Exchange Code |
ISIN |
WisdomTree Ethereum |
0.95 |
% |
Xetra |
EUR |
WETH |
GB00BJYDH394 |
WisdomTree Ethereum |
0.95 |
% |
SIX |
EUR |
ETHW |
GB00BJYDH394 |
WisdomTree Ethereum |
0.95 |
% |
SIX |
USD |
ETHW |
GB00BJYDH394 |
Find out more:
https://www.wisdomtree.eu/en-gb/strategies/crypto-currency
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 $72.9billion in
assets under management globally.
WisdomTree® is the marketing name for WisdomTree Investments,
Inc. and its subsidiaries worldwide.
IMPORTANT INFORMATIONCommunications
issued in the European Economic Area (“EEA”): This
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The product discussed in this document is issued
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The product discussed in this document
is an unregulated ETP, approved to trade on the SIX Swiss Exchange
in Switzerland and the Deutsche Börse Xetra in Germany.
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 ether,
with WisdomTree purchasing ether and creating smaller sized
shares, which can then be traded and redeemed on exchange.
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