WisDomtree has launched a physically backed -up exchange -traded product tied to the stars’ lumen (XLM) across several European venues, which sets the management cost rate of 0.50%, according to a press release that the active manager shared with Coindesk on Tuesday.
The product is called the WisHomtree Physical Stellar Lumens ETP, and gives exposure to the spot price for lumen through a physically supported structure.
ETP was listed on the six Swiss exchange and at Euronext in Paris and Amsterdam at the launch, with a Deutsche Börse Xetra list scheduled for October 15. Wisdomtree described the 0.50% fee as the lowest cost physically backed up the lumens ETP in Europe; Coindesk does not have independently verified competing fee levels.
The company places the vehicle as a route in institutional quality to Stellar’s original asset and says it joins a lineup that began in 2019 with a physically backed Bitcoin ETP.
On the network, Wisdomree Stellar characterizes as a high-performance LAG-1 for the purpose of modernizing cross-border payments and issuing of tokenized assets. The release highlights the star’s consensus protocol described as energy efficient and based on federal reconciliation of public identifiable validators and notes Smart contracts were introduced by 2024.
“Stellar is one of the most established blockchains in the world, with a clear focus on solving problems in the real world in cross -border payments and funding. Lumen serves as the lifeblood of the stars’ network that facilitates effective border flood transactions and with a fixed total delivery of 50 billion and no inflationary issue, it benefits from cutting and monetary integrity,” Masters, who are involved in the advantage of cutting and monetary integrity, “Said Dovile Silent Silent, Directy, Directit,” Setilete, “Said Silente, Dirente, Directit,” Setilete, “Setilete Silente, Inflation of Dective,” Said Dovilete, “setilete, at WisdomTree.
From press time, according to Coindesk data, XLM traded around $ 0.3251, down 6.4% over the last 24 hours.
