BlockBeats News, October 14th, WisdomTree has launched a physically backed exchange-traded product (ETP) linked to XLM on multiple European trading platforms, with a management fee set at 0.50%.
This product is named WisdomTree Physical Stellar Lumens ETP and provides investors with exposure to the Stellar coin spot price through a physically backed structure. The ETP has been listed on the SIX Swiss Exchange in Switzerland, as well as the pan-European exchanges in Paris and Amsterdam (Euronext), and is scheduled to be listed on the Xetra German Stock Exchange on October 15th.
WisdomTree stated that the 0.50% fee for this product is the lowest cost physically backed Stellar coin ETP in Europe (CoinDesk has not independently verified other competitors’ fees). The company positions this product as a way for institutional investors to access the Stellar native asset and describes it as another new product since launching the physically backed Bitcoin ETP in 2019.
