Markets
What ho, old sport? Here’s the lowdown:
- WisdomTree, in a fit of financial whimsy, has unleashed a physically backed Stellar Lumens ETP upon the unsuspecting European masses, charging a mere 0.50% fee. How quaint! 🧐
- The product, already prancing about on SIX and Euronext, is set to grace Xetra on Oct. 15, no doubt with all the fanfare of a society wedding. 🎩
In a move that smacks of both audacity and a certain je ne sais quoi, WisdomTree has flung its latest creation-the WisdomTree Physical Stellar Lumens ETP-into the European arena. This marvel, we are assured, offers exposure to the spot price of lumens, all neatly packaged in a physically-backed structure. How dreadfully modern! 💼✨
The ETP, already strutting its stuff on the SIX Swiss Exchange and Euronext in Paris and Amsterdam, is slated to make its grand entrance on Deutsche Börse Xetra come Oct. 15. WisdomTree, with a straight face, dubs the 0.50% fee the “lowest-cost” option in Europe. One can only marvel at their chutzpah! 🏆
This latest concoction joins WisdomTree’s crypto stable, which began its gallop in 2019 with a physically backed bitcoin ETP. How time flies when one is raking in fees! ⏳
Stellar, we are informed, is a “high-performance Layer-1” blockchain, ostensibly aimed at revolutionizing cross-border payments and tokenized-asset issuance. The Stellar Consensus Protocol, described as “energy-efficient” and reliant on “federated voting,” sounds like the sort of thing one might discuss over port and cigars. 🥃
Dovile Silenskyte, director of digital assets research at WisdomTree, gushed: “Stellar is one of the most established blockchains in the world, with a clear focus on solving real-world problems in cross-border payments and finance. Lumens, with their fixed supply and lack of inflation, are the very essence of fiscal propriety.” How dreadfully earnest! 🙄
At the time of this scribble, XLM was trading at a modest $0.3251, down 6.4% in the past 24 hours. One can only hope it rallies before the next round of cocktails. 🍸
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2025-10-14 15:20