US-based companies are increasingly listing cryptocurrency-based investment products in Europe, and asset manager WisdomTree gets another listing for its cryptocurrency exchange-traded (ETP) product.
On December 2, WisdomTree listed its Crypto Mega Cap Equal Weight ETP on the Euronext exchanges in Paris and Amsterdam.
Trading under the ticker symbol MEGA, the investment product is backed by physical crypto assets, including Bitcoin (BTC) and ether (ETH) with quarterly rebalancing. Released in November 2021, MEGA was previously listed on the Deutsche Boerse Xetra digital exchange and the Swiss SIX exchange.
In addition to MEGA, WisdomTree also recently launched two more crypto ETPs, including WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoin (WALT).
BLOC provides exposure to a basket of crypto assets representing 70% of the crypto market capitalization, including currencies such as BTC, Ether, Cardano (THERE ARE), Bitcoin Cash (BCH) and others. WALT provides exposure to major currencies, excluding BTC and ETH, and was designed for investors who already have exposure to mega-cap coins. Both ETPs debuted on Boerse Xetra and SIX in late November 2021.
Related: Invesco launches spot Bitcoin ETP on Deutsche Borse
US asset managers are increasingly listing their crypto investment products in Europe amid regulatory hurdles in the United States. Despite the fact that the U.S. Securities and Exchange Commission (SEC) has approved several exchange-traded funds (ETFs) based on BTC futures since October, American investors have still been waiting for a spot BTC ETF.
the SEC delayed its decision on Wisdom Tree's Bitcoin ETF with a request for public comment in July 2021 after signing filed for investment product in March.
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