WisdomTree launches XLM physically-backed ETP in Europe.

On October 14, WisdomTree launched a physically-backed exchange-traded product (ETP) linked to XLM on multiple European trading platforms, setting the management fee rate at 0.50%. This product is named WisdomTree Physical Stellar Lumens ETP, providing investors with exposure to the spot price of Stellar coin through a physically-backed structure. The ETP has been listed on the SIX Swiss Exchange as well as on the pan-European exchanges in Paris and Amsterdam (Euronext), and is planned for listing on the German stock exchange Xetra on October 15. WisdomTree stated that the 0.50% fee for this product is the lowest for a physically-backed Stellar coin ETP in Europe (CoinDesk has not independently verified the fees of other competing products). The company positions this product as a way for institutional investors to access Stellar native assets, marking it as another new offering since the launch of the physically-backed Bitcoin ETP in 2019.

XLM-4.04%
BTC-1.69%
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