US-based companies are increasingly listing cryptocurrency-based investment products in Europe, with asset manager WisdomTree receiving another listing for its exchange-traded crypto basket product (ETP).
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 powered by physical crypto assets including Bitcoin (BTC) and ether (ETH) with a quarterly rebalancing. MEGA was launched in November 2021 and was before listed on the digital exchange Xetra of Deutsche Börse and the Swiss Exchange SIX.
In addition to MEGA, WisdomTree recently launched two more crypto ETPs, including WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoin (WALT).
BLOC offers exposure to a basket of crypto assets that make up 70% of the crypto market capitalization, including coins such as BTC, Ether, Cardano (THERE IS), Bitcoin cash (BCH) and other. WALT offers exposure to major coins with the exception of BTC and ETH and was developed for investors who already have exposure to the mega-cap coins. Both ETPs debuted on the Xetra and SIX exchanges at the end of November 2021.
Related: Invesco launches spot Bitcoin ETP on Deutsche Börse
US asset managers are increasingly listing their crypto investment products in Europe amid regulatory hurdles in the US. Although the US Securities and Exchange Commission has approved a number of Exchange Traded Funds (ETF) based on BTC futures since October, US investors are still waiting for a spot BTC ETF.
the The SEC has postponed its decision on Wisdom Tree’s Bitcoin ETF with a request for public feedback in July 2021 according to the law firm registered for the investment product March.
