WisdomTree has launched a physically backed exchange-traded product tied to stellar lumens (XLM) across several European venues, setting the management expense ratio at 0.50%, according to a press release the asset manager shared with CoinDesk on Tuesday.

Called the WisdomTree Physical Stellar Lumens ETP, the product provides exposure to the spot price of lumens through a physically-backed structure.

The ETP listed on the SIX Swiss Exchange and on Euronext in Paris and Amsterdam at launch, with a Deutsche Börse Xetra listing planned for Oct. 15. WisdomTree described the 0.50% fee as the lowest-cost physically backed lumens ETP in Europe; CoinDesk has not independently verified competing fee levels.

The firm positions the vehicle as an institutional-grade route to Stellar’s native asset

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