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Wisdomtree launches XRP ETP across European markets

Wisdomtree launches XRP ETP across European markets

GrafaGrafa2024/11/22 07:00
By:Isaac Francis

Wisdomtree has launched its new cryptocurrency exchange-traded product (ETP), the Wisdomtree Physical XRP (XRPW), on major European exchanges, including Deutsche Börse Xetra, Six Swiss Exchange, and Euronext in Paris and Amsterdam.

The XRP (CRYPTO:XRP) ETP offers a competitive management expense ratio of 0.50%, making it Europe’s most cost-efficient product for XRP exposure.

Fully backed by XRP, the ETP provides investors with access to the cryptocurrency’s spot price through a physically-backed structure designed for security and simplicity.

Wisdomtree emphasised its dual-custody model, ensuring regulated custodianship and professional cold storage for the underlying assets.

"The Wisdomtree Physical XRP ETP is designed to offer investors a simple, secure, and cost-efficient way to gain exposure to the price of XRP," the company stated.

This launch expands Wisdomtree’s portfolio to nine cryptocurrency ETPs, including Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and Solana (CRYPTO:SOL).

The firm highlighted that cryptocurrency ETPs help investors maintain access to a regulated framework while leveraging its 20 years of experience in managing physically-backed products.

"Investors in our cryptocurrency ETPs can benefit from our global reach, scale, and resources," stated Alexis Marinof, Head of Europe at WisdomTree.  

The XRP ETP will be available across 16 European countries, with additional offerings in the UK for Bitcoin and Ethereum products.

Despite ongoing regulatory challenges, including the Ripple Labs case with the U.S. Securities and Exchange Commission (SEC), XRP-focused products have seen increased interest.

Bitwise, 21Shares, and Grayscale have all filed or expanded XRP investment products recently, reflecting growing demand for this cryptocurrency.

At the time of reporting, the XRP price was $1.40. 

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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