ETP issuer WisdomTree has added Polygon (MATIC) and Avalanche (AVAX) to the indices tracked by the physically-backed cryptocurrency basket ETPs, WisdomTree Crypto Market (BLOC) and WisdomTree Crypto Altcoins (WALT).
BLOC and WALT are listed on Börse Xetra, and Euronext exchanges in Paris and Amsterdam and SIX, the Swiss stock exchange. The ETPs are passported for sale across the European Union.
Alexis Marinof, Head of Europe, WisdomTree, says: “Our crypto baskets were designed to provide investors with exposure to an evolving crypto asset landscape. By rebalancing quarterly, additional coins like MATIC and AVAX, can be added to the indices. 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 screening and rebalancing allows investors to conveniently allocate to the some of the largest and most liquid crypto assets currently investable, within a familiar product structure without them having to set up and secure individual wallets or expressing conviction views on any individual coins.”
Polygon is an open source Ethereum sidechain which has been designed to transact faster and cheaper while leveraging the security of the Ethereum blockchain. The Polygon token, MATIC, has several purposes in the Polygon ecosystem such as voting and paying gas fees amongst others. Polygon has focused its efforts on supporting the development of scaling infrastructure specific to the Ethereum network and other EVM-compatible blockchains.
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is a decentralized blockchain with smart contract functionality which aims to be eco-friendly, low cost and provide fast transactions. AVAX is the native token of Avalanche platform. It’s a hard-capped, scarce asset that is used to pay for fees, secure the platform through staking, and provide a basic unit of account between the multiple Subnets created on Avalanche.