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Ethereum ETP Officially Launched on SIX Swiss Exchange

By Mary T. | March 7, 2019
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Ethereum ETP Officially Launched on SIX Swiss Exchange

The leading Swiss stock exchange, SIX Swiss Exchange, has introduced trading of an Ethereum (ETH)-based exchange-traded product (ETP) on March 5, following the firm’s website.  

Supported by the crypto startup Amun AG, the new Ethereum-based ETP will trade under the index AETH. The Ethereum ETP has a 2.5% annual management fee.

Previously in November 2018, SIX Swiss Exchange revealed its first cryptocurrency-based ETPs called “HODL”, an Amun Crypto Basket Index ETP, which tracked five of the largest crypto assets including Bitcoin (BTC), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum (ETH).

According to the article, Ethereum ETP is set to get hold of 16.7% of the market share, while Bitcoin accounting for around half of the ETP’s assets. Ripple, the third top cryptocurrency, will take a market cap of 24.4%, with Bitcoin Cash and Litecoin are determined to take 5.2 and 3 percent respectively.

Recently, SIX is working on their SDX digital trading platform which may be launched in late summer of 2019. However, the exact date is on the Financial Market Supervisory Authority in charge of regulating the Swiss market.

Recently, major Swiss private bank Vontobel announced that it now offers a full end-to-end custody service for digital assets called “Digital Asset Vault”, offering their clients digital asset management solutions, reported by The Crypto Sight on Jan 19.

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