WisdomTree revealed it had launched four cryptocurrency indices in US and Europe

WisdomTree revealed it had launched four cryptocurrency indices in US and Europe

BUSINESS| Dec 4, 2021 | WOZINGA NEWS

WisdomTree revealed it had launched four cryptocurrency indices in US and Europe

  • The metrics will give investors direct access to large-cap cryptocurrencies, altcoins, DeFi services, and other assets.

By Elah Mae Ariate Wozinga Staff

WisdomTree, a financial organization with over $76 billion in assets under management, revealed on Friday that it had launched four cryptocurrency indices in the US and Europe to provide investors with a diverse portfolio exposure.

Ritholtz Wealth Management, OnRamp, and Gemini collaborated on the move.

WisdomTree launches four cryptocurrencies

According to Cointelegraph, WisdomTree will launch the RWM WisdomTree Crypto Index in the United States and in Europe. It is advancing the WisdomTree Crypto Mega Cap Equal Weight (MEGA), WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoins (WALT) indices.

The RWM WisdomTree Crypto Index will prioritize crypto assets, layer one networks, layer two protocols, oracle networks. Also decentralized finance protocols, among other things. However, it will place a strong emphasis on layer one networks, with this category accounting for 64% of the fund’s assets.

Meanwhile, MEGA will serve as an equal weight index for large-cap cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) (ETH).

BLOC, on the other hand, will track the performance of the top 70% of cryptos by market valuation. Finally, WALT is an equally-weighted index that tries to monitor the performance of cryptocurrencies and hence does not hold BTC or ETH.

WisdomTree will continue to expand its platform and skills

Alexis Marinof, WisdomTree’s head of European operations, issued the following comment in response to the news:

“As investors’ interest in crypto assets grows, we will continue to expand in our platform and skills to help investors in this fast-moving sector.”

WisdomTree’s proposal to establish a Bitcoin spot ETF in the United States was denied earlier this week after the Securities and Exchange Commission ruled that the proposed fund failed to meet several regulatory requirements, including those outlined in the Exchange Act. However, the asset management was successful in listing various exchange-traded products in Europe.

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