WisdomTree Launches Europe’s First Physically-Backed XLM ETP

According to Odaily Planet Daily, asset management company WisdomTree has launched the "WisdomTree Physical Stellar Lumens ETP" in Europe, the first physically-backed Stellar (XLM) exchange-traded product with a management fee of 0.50%. The ETP is already listed on the SIX Swiss Exchange and Euronext in Paris and Amsterdam, and will be available on Xetra in Germany on October 15. WisdomTree claims this product is the lowest-cost physical XLM ETP in Europe and aims to provide institutions with a compliant investment channel for the native assets of the Stellar network. The Stellar network is known for its efficient cross-border payments and tokenized asset issuance, and currently works with over 69 regulated financial institutions worldwide. (CoinDesk)