WisdomTree has extended its range of crypto exchange traded products (ETPs) with the launch of a ripple exposure.
The WisdomTree Physical XRP (XRPW) is listed on Deutsche Borse, SIX Swiss Exchange, Euronext Paris and Euronext Amsterdam with a total expense ratio (TER) of 0.50%.
XRPW tracks the Compass Crypto Reference index XRP which provides physically backed exposure to the spot price of ripple (XRP).
XRP is an open-source, permissionless, and decentralised blockchain. It is built specifically for payments, as a faster and sustainable alternative to bitcoin.
Alexis Marinof (pictured), head of Europe, WisdomTree, said: “This new launch complements our existing line-up of physically-backed cryptocurrency ETPs, providing investors with another solution to enhance their multi-asset portfolios.
“Cryptocurrency ETPs represent an efficient way to keep investors in a regulated framework and are becoming the preferred vehicle to access cryptocurrencies.”
XRPW is the cheapest ripple ETP exposure in Europe, significantly undercutting the ETC Group Physical XRP (GXRP) at 1.95% and the CoinShares Physical XRP (XRPL) with a total expense ratio (TER) of 1.50%.
The launch takes WisdomTree’s physically backed crypto ETP range to nine strategies, currently housing $1.1bn assets.
Elsewhere, WisdomTree launched its second efficient core ETF in Europe providing leveraged exposure to a traditional global 60/40 portfolio.
