WisdomTree launches three crypto-basket ETPs

Digital currency bitcoinWisdomTree has boosted its digital assets range with the launch of three physically-backed cryptocurrency basket exchange-traded products.

The WisdomTree Crypto Market (BLOC), WisdomTree Crypto Altcoins (WALT) and WisdomTree Crypto Mega Cap Equal Weight (MEGA) ETPs, listed today on SIX, the Swiss stock exchange, and Börse Xetra, and are passported for sale across the European Union.

Jason Guthrie, head of digital assets, Europe, at WisdomTree, said: “We believe in the power of this new asset class. It is a truly transformative technology and the pace of innovation in the space is staggering. There is now $2.6 trillion dollars of value captured by the asset class, which didn’t exist pre-2009.

"As it inevitably continues to grow in prominence, institutions need an increasingly sophisticated tool kit to enable them to provide access effectively and efficiently to crypto asset markets for their clients."

BLOC is a free-float market cap weighted ETP that offers investors exposure to a diversified basket of crypto assets that represent around 70% of the market cap. 

WALT, meanwhile, offers exposure to a diversified basket of altcoins, excluding bitcoin and etherium. 

Finally, MEGA offers an equal weighted allocation to mega cap crypto assets, currently bitcoin and ethereum, with a quarterly balance. 

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