WisdomTree lists Bitcoin ETP on Börse Xetra
EU passporting for WisdomTree Bitcoin provides easy access to European professional investors
NEW YORK, April 14, 2021 (GLOBE NEWSWIRE) -- 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.com
Arran Fano, PR and Communications, +44 20 7448 4336 / AFano@WisdomTree.com
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.
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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.
Released April 14, 2021