WisdomTree Lists Bitcoin ETP on the SIX Swiss Exchange

WisdomTree, a top asset management firm has announced the launch of its Bitcoin exchange-traded product (ETP), according to its press release.

You’ve heard about #TaxLossHarvesting, but how does it work? https://t.co/hSREw9cOfV pic.twitter.com/6W16Q0dvY0

— WisdomTree (@WisdomTreeFunds) December 3, 2019

The product, which has been dubbed the WisdomTree Bitcoin ETP (BTCW), is a physically-backed product that will be listed on the SIX Swiss Exchange and will have a total expense ratio of 0.95 percent.

The ETP will provide investors with a simple and convenient means of gaining exposure to the world’s premier cryptocurrency, while also making use of the best in product structuring and traditional financial infrastructure. As usual, investors will be able to access Bitcoin without actually holding the currency directly. They will also be able to interact with the blockchain in several ways, while gang access to institutional-grade storage solutions without having to get the setup with asset custodians. 

Capturing a Moving Trend 

Alexis Marinof, the Head of WisdomTree’s Europe arm, explained that the New York-based asset management giant was so sure the cryptocurrency sector was here to stay and not a fad. As they see things, these assets have a role to play in becoming major parts of investment portfolios going forward, and they will like to provide investors with an opportunity to get in contact with them. 

Expanding on the benefits of their product, he added, “The introduction of cryptocurrencies in an ETP structure will enable investors to find new ways to introduce digital assets into portfolios while still relying on the safety and security that they have come to expect from WisdomTree.”

Also, by trading via the SIX Swiss Exchange, the ETP will enable investors to benefit from a global access point, thus trading shares and offering liquidity like other securities listed on major exchanges. 

Crypto-friendly SIX Swiss Exchange

The move also brings more of an integration between the SIX Swiss Exchange and digital assets. The exchange has been one of the most supportive major trading marketplaces for cryptocurrencies, providing a safe space for financial products backed with cryptocurrencies to thrive. 

Early last month, the main Swiss exchange-listed AXTZ, a Tezos-based ETP that helps its investors to get some passive income. Per the overview of the instrument, the product was launched by Amun AG, a Swiss FinTech firm, in collaboration with the Tezos Foundation. It went live on November 5, with the aim of exposing investors to the performance of Tezos, while also providing them with some atonal gains through the “baking rewards” system. 

Just as it is with other proof-of-stake blockchain networks, investors in Tezos can gain passive income and earn interest by staking their tokens to earn rewards and maintain the network. However, one of the generic terms to Tezos is “baking;” essentially, stakeholders participating in the governance and staking process of a blockchain by delegating their tokens to a service of their choice. 

All delegated holdings are set in correlation with the total staking balance of the service. Amun AG claims that it will charge a 2.5 percent fee on all proceeds from the Tezos ETP.