Swiss Exchange SIX Debuts New Crypto Exchange-Traded Product Based in Swiss Francs

SIX, a prominent stock exchange based in Switzerland, has launched a new financial product based on cryptocurrencies. This exchange-traded product (ETP) is denominated in the local fiat currency and backed with Bitcoin (BTC) and Ethereum (ETH) both.

In order to launch this new product, SIX started a partnership with two other companies: Amun AG and Bitcoin Suisse. Amun has collaterized the investment while SIX will sell it on its platform. Bitcoin Suisse will be important as it will store the underlying assets. The investment is fully collateralized, meaning that for each BTC bought by a client, one BTC will be stored in a vault.

The new offering will be listed as ABBA and it will be formed mostly by Bitcoin (90%). The rest of the assets will be in Ethereum (ETH). The co-founder of Amun AG, Hany Rashwan, affirmed that this can be a unique way for new investors to add more products to their portfolios. The product will be fully regulated, so it can be very appealing to institutional investors.

A Growing Crypto Market

This is the seventh time that Amun listed a crypto-based ETP on an exchange based in the country.

Some of the investments that were already launched include some focused solely on Bitcoin, XRP, Bitcoin Cash and other mixed assets.

SIX is also betting heavily on this kind of asset. The company has seen what a big trend digital assets can be and it is focused on giving its clients more options to invest in this industry.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Gabriel Machadohttps://bitcoinexchangeguide.com/
Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,444FansLike
2,795FollowersFollow
4,193FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Despite Testing $10,000 Multiple Times, Bitcoin Bulls May Not Arrive Yet

Yet another week of bitcoin testing $10,000 and we are back at trading around $9,600. Since the halving on May 11, the digital currency...

#DeleteCoinbase Trending After the Coinbase Exchange's Deal with DEA & IRS Becomes Public

Cryptocurrency exchange Coinbase intends to sell its blockchain analytics software called Coinbase Analytics to two US government agencies. As per the public records, the Internal...

Top UN Blockchain Expert Believes Digital Currencies And CBDC's Pose a Threat To Bank Accounts

Top U.N. official says digital assets, particularly central bank-issued digital payment systems may soon replace bank accounts due to the low-interest rates. Massimo Buonomo,...

EU’s Law Enforcement Agency, Europol, Targets Bitcoin Privacy Tool Wasabi Wallet

Europol, the European Union’s Law Enforcement Agency recently released a two-part report analyzing the impact of privacy tools in crimes related to cryptocurrency. Privacy...

Andrew Yang's Former Aide Seeks Congressional Run in NY-10; Sets Eyes on UBI and Crypto

Jonathan Herzog, a crypto advocate and former aide at Yang's campaign, has launched his congressional run for New York's 10th District. The 26-year-old started...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today