WisdomTree Adds Polygon and Avalanche to Crypto-Basket ETPs

blockchain.news:

WisdomTree Investments, Inc., a New York-based exchange-traded fund and exchange-traded product provider and asset manager, announced on Monday that it has added Polygon (MATIC) and Avalanche (AVAX) to indices at two physically backed crypto basket exchange-traded products (ETPs), the WisdomTree Crypto Market (BLOC) and the WisdomTree Crypto Altcoins (WALT).

The firm added Polygon and Avalanche to the WisdomTree Crypto Market (BLOC) and the WisdomTree Crypto Altcoins (WALT).

BLOC and WALT are already trading on the German stock exchange Börse Xetra, the France stock exchange known as ‘the Euronext Paris,’ Amsterdam stock exchange and the Swiss stock exchange SIX.

The two crypto ETPs have a sales pass for the whole European Union.

Alexis Marinof, head of Europe at WisdomTree, talked about the development: “Our crypto baskets are designed to give investors exposure to the changing environment of crypto assets. Additional coins such as MATIC and AVAX can be added to the indexes through quarterly resets. Before being included in our indexes, coins are evaluated by a committee, and they must meet several criteria, including sufficient liquidity levels, practical use cases, and significant mass.”

Marinof further elaborated: “Our monitoring and rebalancing allow investors to conveniently allocate some of our largest and most liquid investable crypto assets within a familiar structure without having to open or insure individual portfolios or any individual currency to stake.”

The BLOC is a free-float market capitalization-weighted ETP that offers exposure to a diversified basket of cryptocurrencies representing about 65% ​​of the crypto market capitalization. The product is designed for investors who want broad exposure to