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GLOBAL ASSET MANAGER LAUNCHES XRP ETP WITH INDUSTRY-LEADING PRICING IN EUROPE
XRP advances with a new institutional-grade exchange-traded product, offering secure, physically backed exposure as Wisdomtree expands crypto products amid growing investor interest.
XRP Gains Ground: Major ETP Launched by a Top European Asset Manager
Asset management firm Wisdomtree announced on Thursday the launch of its latest cryptocurrency exchange-traded product (ETP), the Wisdomtree Physical XRP (XRPW), on major European exchanges, including Deutsche Börse Xetra, Six Swiss Exchange, and Euronext in Paris and Amsterdam.
With a management expense ratio of 0.50%, the asset management firm stated that its XRP ETP is Europe’s most competitively priced offering for XRP exposure.
Built for simplicity and security, Wisdomtree explained that the product is fully backed by XRP, providing exposure to its spot price through an institutional-grade, physically backed structure. According to the asset manager:
The Wisdomtree Physical XRP ETP is designed to offer investors a simple, secure, and cost-efficient way to gain exposure to the price of XRP. Investors also benefit from a dual-custody model with regulated custodians and with the underlying assets professionally secured in cold storage.
This latest addition expands Wisdomtree’s portfolio of nine cryptocurrency ETPs, which also cover bitcoin, ethereum, solana, and diversified crypto baskets.
“Cryptocurrency ETPs represent an efficient way to keep investors in a regulated framework and are becoming the preferred vehicle to access cryptocurrencies,” Alexis Marinof, Head of Europe at Wisdomtree, highlighted the benefits of ETPs.
“Wisdomtree leverages 20 years of expertise in providing and managing physically-backed ETPs for institutional investors. With over $100bn of assets under management globally across ETFs and ETPs, investors in our cryptocurrency ETPs can benefit from our global reach, scale and resources.”
@ Newshounds News™
Source: Bitcoin News
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BRICS: INDIA PROVIDES UPDATE ON CBDC CURRENCY
BRICS member India is among the few countries that successfully launched a pilot basis of Central Bank Digital Currency (CBDC). The Reserve Bank of India (RBI) began testing the CBDC currency early this year for trade and common transactions. The RBI is testing the security aspects of digital currencies and conducting studies about their potential impact on the economy.
The launch of the CBDC could change the fortunes of BRICS member India, as it’s ahead of the curve in digital currencies. Out of the 198 countries in the world, 134 nations are currently working towards the formation of a CBDC currency. All the countries are currently in testing mode while only a few have reached the pilot testing phase.
BRICS: India Gives Update on CBDC Currency Progress
Apart from the de-dollarization agenda, BRICS is also looking to topple the US dollar with CBDC digital currencies. Reserve Bank of India’s Deputy Governor T Rabi Sankar confirmed that the CBDC pilot mode is in its advanced stages.
Sankar signaled that the CBDC rollout will also be utilized for government, retail, and institutional users. When reporters questioned about its release date, the RBI deputy said that they were not in a hurry.
“We are in no hurry to roll it out (CBDC) immediately,” he said to reporters. The RBI deputy revealed that once things fall in place, details about the CBDC currency will be made public by BRICS. “Once we have some visibility of what the outcome or impact will be, we’ll roll it out. We don’t keep a specific timeline for that.”
Apart from India, its BRICS counterpart Russia is also in the advanced stages of testing its CBDC currency. Russia plans to launch the digital ruble and usher into a new era in the financial sector. Transactions in the US dollar will begin to decline gradually if BRICS starts using CBDC digital currencies for trade.
@ Newshounds News™
Source: Watcher Guru
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@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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