$XRP XRP advances with a new institutional Exchange Traded Product (ETP) that provides secure, physically backed access, while Wisdomtree expands its crypto products in response to growing investor interest.
XRP is gaining ground: Major ETP launched by a leading European asset manager
The asset management company Wisdomtree announced on Thursday the launch of its latest cryptocurrency ETP, the Wisdomtree Physical XRP (XRPW), on major European exchanges such as the Deutsche Börse Xetra, the Six Swiss Exchange, and Euronext in Paris and Amsterdam.
With a Management Expense Ratio of 0.50%, the asset management company stated that its XRP ETP is the most competitively priced offering for XRP exposure in Europe. Designed for simplicity and security, Wisdomtree explained that the product is fully backed by XRP and provides access to its spot price through an institutional, physically backed structure. According to the asset manager:
The Wisdomtree Physical XRP ETP is designed to provide investors with a simple, secure, and cost-effective way to access the price of XRP. Investors also benefit from a dual-custody model with regulated custodians and with the underlying assets professionally secured in cold storage.
This latest addition expands Wisdomtree's portfolio to nine cryptocurrency ETPs, which also cover Bitcoin, Ethereum, Solana, and diversified crypto baskets. "Cryptocurrency ETPs are an efficient way to keep investors within a regulated framework and are increasingly becoming the preferred vehicle to gain access to cryptocurrencies," highlighted Alexis Marinof, Head of Europe at Wisdomtree, emphasizing the benefits of ETPs. "Wisdomtree leverages 20 years of experience in providing and managing physically backed ETPs for institutional investors. With over $100 billion in assets under management globally in ETFs and ETPs, investors in our cryptocurrency ETPs can benefit from our global reach, scope, and resources."
Source: bitcoin.com
