Industry Updates

WisdomTree adds polygon and avalanche to crypto-basket ETPs following rebalance

Rebalanced on 19 August

Stephan Roth


WisdomTree has added polygon and avalanche to two cryptocurrency-basket ETPs following the quarterly rebalance of their respective indices.

Polygon and avalanche were incorporated into the WisdomTree Crypto Market (BLOC) and the WisdomTree Crypto Altcoins (WALT) on 19 August.

Polygon is the cryptocurrency native to the polygon network, an ethereum-linked blockchain project used to make faster transactions across the polygon and ethereum networks. The project has a market cap of $6.2bn, making it the fourteenth largest crypto, according to data from CoinMarketCap.

Sitting just behind polygon with a similar market cap is avalanche, a cryptocurrency used on the avalanche platform. Avalanche is an open-source platform for launching decentralised applications (Dapps).

Alexis Marinof, head of Europe at WisdomTree, said: “Before being included in our indices, coins are reviewed by a committee and must meet a number of criteria including sufficient liquidity, practical use case and critical mass.

“Our crypto baskets are designed to provide investors with exposure to an evolving crypto-asset landscape.”

BLOC is a free-float market cap weighted ETP that provides broad exposure to a diversified basket of cryptos representing 65% of the crypto-industries total market cap. BLOC has a total expense ratio (TER) of 1.45%.

BLOC currently offers exposure on bitcoin, ethereum, cardano, bitcoin cash, litecoin, polkadot, solana and now polygon and avalanche. BLOC has a total expense ratio (TER) of 1.45%.

WALT places emphasis on providing greater exposure to major coins such as bitcoin and ethereum and is designed for investors who already have exposure to large-cap coins and wish to diversify their portfolios without changing their existing holdings.

Individual constituents are capped at a max weighting of 50% and a minimum allocation of 2.5% per crypto asset. WALT has a TER of 1.45%.

Both BLOC and WALT are listed on Deutsche Boerse, Euronext Amsterdam, Euronext Paris and the SIX Swiss Exchange. 

The inclusion of polygon and avalanche adds to WisdomTree's growing list of cryptocurrencies that investors can gain exposure to through ETPs.

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