Booom! WisdomTree Launches XRP ETP With Affordable Fees In Europe

WidomTree launched an ETP product for XRP. (Photo; Doc. Finbold)

JAKARTA The leading Exchange-Trad Product (ETP) provider, WisdomTree, launched a new product called WisdomTree Physical XRP (XRPW). This product is offered at competitive management costs of 0.50 percent. This brings XRPW to be one of the most affordable crypto ETPs in Europe. Currently, XRPW is available on a number of major exchanges such as Deutsche Burese Xetra, Swiss Stock Exchange SIX, and Euronext in Paris and Amsterdam.

This product is designed to provide direct access to investors to XRP, the main digital currency of XRP Ledger (XRPL), through a reliable spot price exposure. In terms of security, the assets in XRPW are managed with a dual custodial scheme and stored in cold storage by regulated custodians.

XRPL itself is an open and decentralized blockchain that uses the Proof-of-Association (PoA) consensus mechanism. Compared to traditional methods such as Proof-of-Work (PoW), PoA is more energy efficient and environmentally friendly, thus making XRP an alternative that is more efficient in terms of operational costs.

Launched in 2012, XRP was designed to accelerate transactions across countries with a completion time of only three to five seconds. XRP transactions are carried out directly between parties involved without intermediaries, allowing fast and efficient transfer of cross-currency funds.

Director of Digital Asset Research WisdomTree, Dovile Silenskyte, explained that XRP provides a significant diversification opportunity in digital asset portfolios. Altcoins like XRP complement large crypto assets such as Bitcoin and Ethereum, while reducing exposure risk in one type of asset," said Silenskyte.

This launch reinforces WisdomTree's position as a leader in the crypto ETP market. The head of European WisdomTree, Alexis Marinof, said that this product is an important step in providing exposure to crypto assets in a regular investment environment.

"With total global assets managed by more than 100 billion US dollars (Rp1.58 quadrillion), we provide scaling and resources that allow investors to take advantage of opportunities in the crypto market," said Marinof.

Currently, XRPW is available in various European countries such as Germany, France, Italy and the UK, expanding access for investors who want to make crypto part of their portfolio.