US companies are increasingly offering crypto investment products in Europe. The asset manager WisdomTree has now received another approval for its exchange-traded crypto product (ETP).
On December 2nd, WisdomTree listed its Crypto Mega Cap Equal Weight ETP on the Euronext stock exchanges in Paris and Amsterdam.
The investment product is traded under the ticker symbol MEGA and is backed by physical crypto-assets such as Bitcoin ( BTC ) and Ether ( ETH ) with quarterly rebalancing. MEGA was launched in November 2021 and was previously listed on the Xetra digital exchange of Deutsche Börse and the SIX Swiss Exchange .
In addition to MEGA, WisdomTree recently launched two more crypto ETPs, namely WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoin (WALT).
BLOC invests in a basket of crypto assets that make up 70 percent of crypto market capitalization. These include coins such as BTC, Ether, Cardano ( ADA ), Bitcoin Cash ( BCH ) and others. With WALT you invest in the most important coins with the exception of BTC and ETH. This product was designed for investors who have already invested in so-called mega-cap coins. Both ETPs were listed on Xetra and SIX at the end of November 2021.
In this context: Invesco launches spot Bitcoin ETP on German stock exchange
US asset managers are increasingly offering their crypto investment products in Europe, given the regulatory hurdles in the United States. The US Securities and Exchange Commission has approved a number of BTC futures ETFs since October. However, a spot BTC ETF is still pending .
The SEC has postponed its decision on Wisdom Tree's Bitcoin ETF and has sought public feedback. The company applied for the investment product in March .
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