WisdomTree has launched a physically backed swap-traded product tied to stellar lumens (XLM) across a few European venues, surroundings the management expense ratio at 0.50%, in accordance with a assertion the asset supervisor shared with CoinDesk on Tuesday.
Known as the WisdomTree Bodily Stellar Lumens ETP, the product affords exposure to the space trace of lumens thru a physically-backed structure.
The ETP listed on the SIX Swiss Commerce and on Euronext in Paris and Amsterdam at open, with a Deutsche Börse Xetra listing deliberate for Oct. 15. WisdomTree described the 0.50% price because the bottom-price physically backed lumens ETP in Europe; CoinDesk has no longer independently verified competing price stages.
The firm positions the vehicle as an institutional-grade path to Stellar’s native asset and says it joins a lineup that started in 2019 with a physically backed bitcoin ETP.
On the community, WisdomTree characterizes Stellar as a high-performance Layer-1 geared in direction of modernizing detrimental-border payments and tokenized-asset issuance. The open highlights the Stellar Consensus Protocol — described as energy-ambiance friendly and per federated balloting by publicly identifiable validators — and notes shipshape contracts were presented in 2024. The corporate also parts to integrations with larger than 69 regulated monetary establishments across 170+ international locations for fiat–crypto bridging.
“Stellar is one in all the most established blockchains in the area, with a undeniable style out solving steady-world complications in detrimental-border payments and finance. Lumens reduction because the lifeblood of the Stellar community, facilitating ambiance friendly detrimental-forex transactions and, with a mounted complete provide of 50 billion and no inflationary issuance, it benefits from scarcity and monetary integrity,” said Dovile Silenskyte, director of digital sources be taught at WisdomTree.
As of press time, in accordance with CoinDesk Data, XLM traded around $0.3251, down 6.4% over the past 24 hours.
