WisdomTree Launches Crypto ETPs for Solana, Cardano, Polkadot in Europe

Other ETP issuers are planning crypto-linked investment products that also yield staking returns.

AccessTimeIconMar 29, 2022 at 7:00 a.m. UTC
Updated May 11, 2023 at 7:15 p.m. UTC

Investment firm WisdomTree launched another tranche of crypto exchange-traded products (ETP) in the European market.

New ETPs covering Solana's SOL, Cardano's ADA and Polkadot's DOT listed on Swiss stock exchange SIX and Börse Xetra on Tuesday, according to a press release. Euronext exchanges in Paris and Amsterdam will add them at the end of the month.

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  • Crypto ETPs are mainstream investment vehicles that offer easy exposure to cryptos. They’re prevalent in Europe, where regulators have moved faster on crypto products. WisdomTree and other issuers such as VanEck and 21Shares all have launched crypto ETPs in Europe well beyond plain-vanilla offerings in bitcoin (BTC) and ether (ETH).

    Meanwhile in the U.S., crypto asset managers are still fighting for the first bitcoin spot vehicle to clear the Securities and Exchange Commission (SEC). The SEC allowed two cash-settled bitcoin futures ETFs in October.

    “A key component to our approach is launching strategies which will resonate with institutional investors,” WisdomTree Head of Digital Assets for Europe Jason Guthrie said in a statement.

    Competition has driven crypto ETP expenses down (WisdomTree’s 0.95% is among the lowest) but also pressured issuers to innovate. FTX and CoinShares said last week they were working to launch “the first” SOL ETP that returns a portion of staking rewards to investors.

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    Danny Nelson

    Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.