RATE Group | WisdomTree enters crypto arena with physically-backed Bitcoin ETP
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WisdomTree enters crypto arena with physically-backed Bitcoin ETP

03 Dec WisdomTree enters crypto arena with physically-backed Bitcoin ETP

Posted at 10:24h in Bitcoin News by

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Passive fund group WidomTree has entered the cryptocurrency space, with the launch of a physically-backed Bitcoin exchange traded product.

The WisdomTree Bitcoin ETP is the group’s first product in the crypto space and allows access to Bitcoin without the need to hold the cryptocurrency directly, store private access keys or interact with the blockchain or digital currency infrastructure in any way.

The product will be traded on a regulated stock exchange and shares will settle via traditional settlement systems. Listed on the Swiss stock exchange, SIX, the ETP has a total expense ratio of 0.95%.

Commenting on the launch, Alexis Marinof, head of Europe at WisdomTree said: ‘We have seen enough to believe that digital assets, like Bitcoin, are not a passing trend and can play a role in portfolios.

‘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…

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