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XRP advances with a new institutional-grade exchange-traded product, offering secure, physically backed exposure as Wisdomtree expands crypto products amid growing investor interest.
XRP Gains Ground: Major ETP Launched by a Top European Asset Manager
Asset management firm Wisdomtree announced on Thursday the launch of its latest cryptocurrency exchange-traded product (ETP), the Wisdomtree Physical XRP (XRPW), on major European exchanges, including Deutsche Börse Xetra, Six Swiss Exchange, and Euronext in Paris and Amsterdam.
With a management expense ratio of 0.50%, the asset management firm stated that its XRP ETP is Europe’s most competitively priced offering for XRP exposure. Built for simplicity and security, Wisdomtree explained that the product is fully backed by XRP, providing exposure to its spot price through an institutional-grade, physically backed structure. According to the asset manager:
The Wisdomtree Physical XRP ETP is designed to offer investors a simple, secure, and cost-efficient way to gain exposure to the price of XRP. Investors also benefit from a dual-custody model with regulated custodians and with the underlying assets professionally secured in cold storage.
This latest addition expands Wisdomtree’s portfolio of nine cryptocurrency ETPs, which also cover bitcoin, ethereum, solana, and diversified crypto baskets. “Cryptocurrency ETPs represent an efficient way to keep investors in a regulated framework and are becoming the preferred vehicle to access cryptocurrencies,” Alexis Marinof, Head of Europe at Wisdomtree, highlighted the benefits of ETPs. “Wisdomtree leverages 20 years of expertise in providing and managing physically-backed ETPs for institutional investors. With over $100bn of assets under management globally across ETFs and ETPs, investors in our cryptocurrency ETPs can benefit from our global reach, scale and resources.”
Wisdomtree’s European crypto ETPs are available in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Poland, Netherlands, Norway, Spain, Sweden, and Switzerland. Additionally, its physical bitcoin and ethereum ETPs are accessible in the UK.
Although XRP is at the center of the lawsuit against Ripple Labs by the U.S. Securities and Exchange Commission (SEC), several asset managers are actively pursuing the launch of ETFs focused on XRP. In October, Bitwise Asset Management filed a registration statement with the SEC to introduce a spot XRP ETF, aiming to provide investors with direct exposure to XRP’s market performance. 21shares also submitted an application to the SEC in November for the 21shares Core XRP Trust, reflecting growing interest in XRP-focused investment products. Additionally, Grayscale Investments expanded its cryptocurrency offerings by adding an XRP Trust to its portfolio, indicating a strategic move to cater to investor demand for diversified crypto assets. These developments underscore a significant trend among fund managers to incorporate XRP into their ETF offerings, despite ongoing regulatory considerations.