WisdomTree launched a Polkadot-based exchange product in Europe

The new instrument is already listed on the crypto exchange Xetra from the Deutsche Börse structure

29.03.2022 - 13:25

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2 min

What’s new? Investment firm WisdomTree has launched a crypto exchange-traded product (ETP) based on Polkadot (DOT) in the European market. The crypto instrument is already listed on the Swiss stock exchange SIX and the German cryptocurrency exchange Xetra. The WisdomTree representatives announced this in a press release on the company’s website.

WisdomTree’s press release

What is an ETP? An Exchange Traded Product is a financial instrument traded on the stock exchange in the form of a basket of securities of any industry or country.

What is Polkadot? It is an open-source blockchain project that aims to create a secure infrastructure for interaction between different blockchains while providing scalability and new features. The founders of the blockchain are Ethereum co-founder and CTO Gavin Wood, Web3 Foundation CTO Peter Chaban, and blockchain technology developer Robert Habermeyer. The project has the native DOT token.

What preceded it? On March 23 of this year, the digital asset manager CoinShares and the FTX crypto exchange announced that they are working on launching a Solana-based ETP. The instrument will allow investors to earn a reward of 3% of the staking, according to a press release.

CoinShares and FTX’s press release

In September 2021, the US Securities and Exchange Commission (SEC) rejected a joint application by management company WisdomTree as well as the Chicago Board Options Exchange’s alternative platform BZX to register the spot bitcoin ETF.

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