WisdomTree has announced the listing of its naturally traded bitcoin-backed Exchange Traded Product (ETP) on the German Stock Exchange Börse Xetra.
The WisdomTree Bitcoin ETP, is already listed on SIX, The Swiss Stock Exchange, since December 2019 with the BTCW badge.
The registration of the WisdomTree Bitcoin ETP in the Börse Xetra follows the approval by the Swedish regulatory authorities, for the distribution of this ETP in the European Union.
German investors through the WisdomTree Bitcoin ETP will be able to get exposure to bitcoin, without necessarily owning the digital currency.
WisdomTree CEO Jonathan Steinberg says his company’s Bitcoin ETP is the most investor-friendly: “We believe that WisdomTree Bitcoin is the friendliest Bitcoin ETP on the market, and we are excited to make this ETP accessible to more investors by subscribing to Xetra.”
Alexis Marinof, head of WisdomTree for Europe, said: “It was our ambition for WisdomTree Bitcoin ETP to enter the EU since we decided to start an ETP cryptocurrency, and this has become possible with the evolution of the regulatory landscape. This move represents an important milestone for the best product in its class and reflects the concerns of institutional investors about the lack of ETP cryptocurrencies in the European Union and the high fees associated with previous choices. We aim to be the leaders in ETP cryptocurrencies. We are in constant discussion with customers and evaluate the opportunities to build on the WisdomTree Bitcoin and create a collection of the best in the product category using our heritage and our expertise in natural bitcoin-supported ETPs. ”
Last January, digital asset management company CoinShares and Germany-based ETC Group launched their own Bitcoin ETPs, respectively, highlighting demand for similar products in Europe.