On Tuesday, a popular fund manager, WisdomTree, announced that it had just launched three crypto-asset exchange-traded products (ETPs) as part of its venture into the crypto industry.
The three recently released ETPs are linked to Cardano, Solana, and Polkadot, the leading cryptocurrency networks. Both new digital currency investments are listed on the following platforms: Xetra, SIX, Borse, and the Swiss Stock Exchange.
WisdomTree integrated both cryptos into its fund managing platform as a way to consolidate its portfolio as an asset management firm in the cryptocurrency industry and other virtual asset spaces.
Crypto Traded Products
The latest new digital currency exchange-traded products announced by WisdomTree are tethered to their respective cryptocurrency networks.
According to WisdomTree, the newly created traded funds include WisdomTree Cardano (ADAW), WisdomTree Polkadot (DOTW), and WisdomTree Solana (SOLW). Both digital assets are well-positioned among the top 20 best performing crypto by market capitalization.
Furthermore, the fund manager also disclosed that all three crypto ETPs are set to be listed on Euronext exchanges located in Paris and Amsterdam at the end of March.
In announcing the new ETP, WisdomTree revealed that the products are designed with investors in mind. Investors would be able to access simple, secure, and affordable ways to gain insights into the value of the digital currency in question. Additionally, investors would be able to gain further exposure to the crypto assets via WisdomTree’s flexible cryptocurrency asset basket.
Liquid Crypto Assets Good For Institutional Use
The past few years have seen the proliferation of crypto ETPs as interest and demand for digital asset investment platforms continue to soar. There are currently a handful of crypto exchange-traded services from companies like Amun AG, Van Eck, Ficas, and Grayscale.
According to the head of digital assets at WisdomTree, Jason Guthrie, one of the key components of the firm’s approach is establishing and implementing strategies that institutional investors will find appealing.
Guthrie also added that the crypto assets to be used should be liquid enough for institutional adoption to achieve the desired objectives. The ETP market players supported this drive because it has a clear and comprehensive use case.
The crypto market is rapidly evolving, and the ETP ecosystem is following suit alongside the need to increase institutional adoption. The head of digital assets noted that WisdomTree will strive to expand its product range and support investors as they try to find their way into the cryptocurrency space.
Last week’s trading session saw Solana rise by 25.5% against the USD, while ADA increased by 33%. On the other hand, Polkadot also spiked in value the same week, with 19.9%.
In terms of market capitalization, the smart contract platforms also performed well. Cardano is the third-largest, with a market value of $39.3 billion, and Solana is the fifth-largest in the industry. Lastly, Polkadot is commanding the seventh position.
The sheer performance of the cryptocurrencies is enough reason why WisdomTree opted to integrate them, and the coming weeks will show how good they might be.