Nasdaq-listed WisdomTree has launched a physically-backed Bitcoin commutation-traded product (ETP) to be listed on Switzerland'due south principal stock exchange, Half-dozen Swiss Substitution.

In a news release published on Dec. iii, the nugget director revealed that online Swiss depository financial institution Swissquote will serve as a custody partner for the product, which is beingness listed at a full expense ratio of 0.95% nether the WBTC ticker.

Bitcoin "not a passing tendency"

Targeted at professional person and institutional investors, the ETP provides exposure to Bitcoin without the need to store individual keys or have a thorough grasp of blockchain fiscal infrastructure.

The ETP is physically-backed by Bitcoin, meaning that investors in the product have an entitlement to a determined amount of Bitcoin — nonetheless custody is entrusted to an institutional third-political party.

As the news release outlines, the ETP tracks the spot toll of Bitcoin, with WisdomTree purchasing Bitcoin and creating smaller sized shares, which tin can and then be traded and redeemed on the SIX substitution.

In a statement, Alexis Marinof, caput of Europe for WisdomTree, said the visitor has "seen enough to believe that digital assets, like Bitcoin, are non a passing trend and tin play a role in portfolios."

WisdomTree claims that bringing cryptocurrencies into the ETP structure could provide centralization of liquidity for the asset class.

Supporting a range of crypto ETPs

As previously reported, Half-dozen listed a pioneering multi-crypto-based exchange-traded production back in November 2022, which tracks five major digital assets.

The exchange has since connected to support a range of crypto financial vehicles, including a new Bitcoin and Ether (ETH) ETP from fintech firm Amun this fall.

SIX has meanwhile been testing blockchain integration for its forthcoming parallel digital asset trading platform, "SDX," which is expected to launch in Q4 2022.