$60B Asset Manager WisdomTree, Launches Bitcoin ETP On Swiss-Based SIX Stock Exchange

    Traditional asset management company WisdomTree introduces a physically-backed BTC exchange-traded product (ETP) using the ticker BTCW.

    WisdomTree, the Nasdaq listed company has introduced a physically-backed BTC ETP that will trade on SIX, a principal stock exchange in Switzerland. The asset manager released a news report on 3rd December where it noted that Swissquote, the online Swiss bank would be serving as the custodial partner for its exchange-traded product (ETP).

    The report went on to state that this product was being listed by the bank at a 0.95% expense ratio. It is expected that the product will start trading using the WBC ticker.

    BTC No Longer a Temporary Drift

    This exchange-traded product is primarily targeting both institutional and professional investors. The ETP will be providing exposure to BTC without requiring its holders to have a good understanding of how blockchain financial infrastructure works or even a need for crypto holders to hold onto private keys.

    The exchange-traded product has been physically-backed by BTC. This means that any companies and institutions that will invest in it will be entitled to a given amount of BTC—despite the fact that its guardianship will be assigned to an influential third party.

    Bitcoin Spot Prices and Market Maker

    As was outlined in the news report, the exchange-traded product will be tracking Bitcoin’s spot price. WisdomTree will then purchase the crypto and proceed to come up with smaller shares. Once created, these shares can either be redeemed or traded on the SIX Exchange.

    Alexis Marinof, WisdomTree’s head of Europe Operations released a statement where he stated that:

    “WisdomTree had been following the performance of various crypto assets such as BTC and were now convinced that the assets were here to stay. They could, therefore, play a crucial role in its portfolio which has more than $60 billion in customer assets. “

    Flow Traders is expected to act as the market maker for this ETP as Swissquote acts as its official custodian.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Daniel W
    Daniel W
    Daniel Wambugu writes daily cryptocurrency and blockchain related articles BitcoinExchangeGuide. His articles have appeared in numerous blogs, media publications, and community forums. He prides himself on once being a beginner and uses his experience to deliver high-quality insightful content for our dear readers. With a knack for reviewing ICOs or researching news, Daniel plans to continue being a top contributor for many years to come.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Chrysler Building's Blockchain Real Estate Owners To Sell Building In Zurich, $135M Cash & ERC20

    The current owner of the Chrysler building is offloading a property valued at around $135 million to a blockchain-based real estate firm. It’s expected...

    Crypto Wallet BRD Expands Core Business, Launches Enterprise Blockchain Service ‘Blockset'

    BRD, a Mobile crypto wallet services provider backed by Ripple as well as SBI Holding, has announced it is expanding to the enterprise sector...

    Ripple: Asia-Pacific Remittance Market Seeing Growing Demand And is Ripe for Digitalization

    APAC digital transfer and remittance market expected to grow by 24.2% from 2018 until 2025 But what’s astounding is the expensive services charging...

    Will Russia’s New Prime Minister Help Foster The Adoption Of Cryptocurrencies?

    The Russian Federation Prime Minister has made a call asking his country people to try and prioritize the development of the digital economy. RIA NOVOSTI,...

    Nationwide Survey: One-Third Of Small And Mid-Sized Businesses Accept Crypto Payments

    36% of Small and Medium-sized Business in the US offering Crypto alternatives for payment systems Newer business are more likely to take up...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.