WisdomTree has announced that the WisdomTree Bitcoin ETP is now available in Euro (WBTC) and USD (BTCW) trading currencies, following the listing of a Euro denominated Bitcoin ETP today. The physically-backed Bitcoin ETPs are listed on SIX, the Swiss Stock Exchange, with a total expense ratio of 0.95%.
The WisdomTree Bitcoin ETP provides investors with a simple, secure and cost-efficient way to gain exposure to Bitcoin through a standardised product using their existing trading, custody and portfolio management set up. As such, the ETP allows investors to take exposure to Bitcoin without the need to hold the cryptocurrency directly, store private keys, interact with the blockchain or set up connectivity with digital currency infrastructure in any way. Investors also get access to institutional grade storage solutions without needing to set it up with a custodian themselves.
The ETP is traded on a regulated stock exchange and shares in the ETP settle via traditional settlement systems. The listing of WisdomTree Bitcoin on the SIX Swiss Exchange will enable investors to benefit from a global access point to trade shares in the ETP and offer liquidity like any other exchange listed security. Bringing cryptocurrencies into the ETP structure could also bring a centralisation of liquidity to the asset class and benefit the underlying digital asset.