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.

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Gabriel Machado
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


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