ETF provider WisdomTree introduces Solana, Cardano and Polkadot ETPs

American exchange-traded fund (ETF) provider WisdomTree continues to expand its cryptocurrency products in Europe by launching three new exchange-traded crypto (ETP) products powered by Solana (SOL), Cardano (ADA) and polkadot (POINT).

wisdom tree announced Tuesday saw the launch of three new physically-backed crypto ETPs, including WisdomTree Solana (SOLW), WisdomTree Cardano (ADAW), and WisdomTree Polkadot (DOTW).

The ETPs are already listed on major European digital exchanges such as Deutsche Boerse’s Xetra, SIX Swiss Stock Exchange and Swiss Stock Exchange. Pan-European exchange Euronext is expected to list crypto ETPs in Amsterdam and Paris on Thursday, according to the announcement.

The ETPs aim to provide investors in Europe with another opportunity to participate in the price of Solana, Cardano and Polkadot via regulated exchanges. SOLW, ADAW and DOTW have a total expense ratio of 0.95% and are available in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, the Netherlands, Norway, Poland, Spain, Sweden and Switzerland.

The new ETPs follow WisdomTree’s growing range of crypto asset products in Europe and join products such as WisdomTree Crypto Mega Cap Equal Weight ETP backed by physical assets including Bitcoin (Bitcoin) and ether (ETH) as well as WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoins (WALT).

Alexis Marinof, WisdomTree’s Head of Europe, said that the new offering aims to meet the growing demand from institutional investors to diversify their crypto portfolio, stating:

“While Bitcoin and Ethereum are making headlines, altcoins are now viable options for many institutional investors, offering more options to diversify their crypto holdings just like any other asset class.”

Related: SEC could approve spot bitcoin ETFs as early as 2023 – Bloomberg analysts

As previously reported by Cointelegraph, WisdomTree has been actively launching ETPs in Europe despite regulatory hurdles in the United States. The US Securities and Exchange Commission in late 2021 rejected WisdomTree’s spot bitcoin ETF after delaying a decision about the product several times. The company afterwards changed its cash BTC ETF submissionwhich US Bank named as custodian for its BTC trust.