Viewpoint: Cryptocurrency Index ETF Will Lead the Next Wave of Adoption

November 16th, WisdomTree's Head of Digital Assets Will Peck predicted that an ETF holding a diversified cryptocurrency portfolio will fill a significant market gap in the coming years and become one of the next waves of adoption. A multi-asset cryptocurrency basket can allow users to access the entire industry while mitigating the "idiosyncratic risk" of investing in a single token. Will Peck stated, "We refer to cryptocurrency as an asset class, but it's actually a technology, and the underlying return drivers of each token are actually quite different, despite being generally correlated, just because we're at this stage of the market right now."Several cryptocurrency index ETFs have already been launched this year. This Thursday, asset management firm 21Shares announced the launch of two cryptocurrency index ETFs: 21Shares FTSE Crypto 10 Index ETF (ticker: TTOP) and 21Shares FTSE Crypto 10 ex-BTC Index ETF (ticker: TXBC). Both track the FTSE Russell Crypto Index, offering investment exposure to a broad portfolio of digital assets holding the top ten crypto assets by market capitalization (TXBC excluding Bitcoin) rather than investing in a single token.