US firm WisdomTree lists crypto ETP on Euronext


U.S.-based companies are increasingly listing cryptocurrency investment products in Europe, with asset manager WisdomTree getting another listing for their cryptocurrency exchange product (ETP).

December 2, WisdomTree listed its Crypto Mega Cap Equal Weight ETP on Euronext exchanges in Paris and Amsterdam.

Trading under the ticker symbol MEGA, the investment product is backed by physical crypto assets including Bitcoin (BTC) and Ether (ETH) with a quarterly rebalancing. Launched in November 2021, MEGA was previously listed about the digital exchange of Deutsche Boerse Xetra and Swiss SIX exchange.

In addition to MEGA, WisdomTree has also launched two additional crypto ETPs recently, including WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoin (WALT).

BLOC provides exposure to a basket of crypto assets representing 70% of the crypto market cap, including currencies such as BTC, Ether, Cardano (ADA), Bitcoin Cash (BCH) and others. WALT provides exposure to major currencies excluding BTC and ETH and has been designed for investors who already have exposure to the mega-cap currencies. Both ETPs debuted on Boerse Xetra and SIX in late November 2021.

Related: Invesco launches Bitcoin ETP spot on Deutsche Borse

U.S. investment managers are increasingly listing their crypto investment products in Europe amid regulatory hurdles in the United States. Despite the U.S. Securities and Exchange Commission (SEC) approving a number of BTC-based exchange-traded funds (ETFs) since October, U.S. investors are still waiting for a BTC ETF spot.

The SEC has delayed its decision on Wisdom Tree’s Bitcoin ETF with a request for public suggestions in July 2021 after the company requested the investment product in March.