WisdomTree lists euro-denominated share class for Bitcoin ETP

Feb 7th, 2020 | By | Category: Alternatives / Multi-Asset

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WisdomTree has introduced a new share class on SIX Swiss Exchange for its WisdomTree Bitcoin ETP.

WisdomTree Bitcoin ETP euros

WisdomTree has listed a euro-denominated share class on SIX Swiss Exchange for the WisdomTree Bitcoin ETP.

Trading under the ticker WBTC SW, the new share class allows investors trading in euros to access a liquid, physically backed investment in Bitcoin, the world’s largest cryptocurrency by market cap.

Issuers of crypto asset-based ETPs argue that the exchange-traded product wrapper offers a liquid and convenient means to access digital assets without the need to hold them directly, store private access keys, or interact with blockchains in any way.

Each share in the WisdomTree Bitcoin ETP corresponds to 1/100th of a Bitcoin and is fully backed by a coin entitlement stored using institutional-grade storage solutions.

Investors are able to view each share’s coin entitlement and the total amount of Bitcoins secured in custody on WisdomTree’s website.

The ETP launched in December 2019 with a US dollar-denominated share class (BTCW SW) and comes with a total expense ratio of 0.95%.

Jason Guthrie, Head of Capital Markets, Europe, WisdomTree, said: “Digital assets, like Bitcoin, are here to stay, and we are committed to building secure solutions which make cryptocurrencies easier to access for investors.

“With institutional adoption of cryptocurrencies at an early stage, it is important that we create a supportive environment for investors looking for exposure to the asset class. Offering our Bitcoin ETP in a new trading currency is the first step in the evolution of our digital assets platform and provides investors interested in the WisdomTree Bitcoin ETP more flexibility in how they trade the product.”

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