The Swiss Stock Exchange welcomes today CoinShares as a new ETP issuer. The digital asset manager is already the second issuer to join the exchange in 2021. CoinShares’ physical bitcoin ETP further expands the choice of products with a crypto-currency as underlying at SIX.
CoinShares is the second ETP issuer to join SIX in a weeks’ time. Their physical bitcoin ETP provides investors with exposure to bitcoin in combination with the benefits of Exchange Traded Products, each unit being backed up with 0.001 bitcoin at launch.
Christian Reuss, Head SIX Swiss Exchange, Markets, SIX said:
Christian Reuss Source: LinkedIn
Interest in Bitcoin continues to grow. As the world’s leading regulated marketplace for products with crypto-currency underlyings, SIX offers investors crucial benefits like transparency, liquidity and equal treatment.
A warm welcome to CoinShares joining our ranks of Exchange Traded Product issuers.
The new CoinShares physical bitcoin ETP is available in four trading currencies. With it investors on the Swiss Stock Exchange now have a selection of 22 Bitcoin ETPs and structured products, while the number of ETP issuers rises to seven, following the recent arrival of ETC Group on 13 January 2021.
Trading turnover in crypto products on SIX shows healthy growth. In the first two weeks of the new year, already CHF 381 mio. have been traded – more than during any month since crypto products were first admitted to trading at SIX in 2016. These numbers highlight the strong position of the Swiss Stock Exchange as a regulated market place for products with crypto underlyings.
CoinShares Physical Bitcoin is a physically-backed ETP secured by the underlying bitcoins. The product allows investors to gain exposure to the price of bitcoin on a regulated European stock exchange. The bitcoins held on behalf of BITC are maintained in custody with a regulated institutional-grade digital asset custodian, Komainu. CoinShares is a pioneer having launched the world’s first regulated bitcoin investment fund and the world’s first bitcoin-based securities on a regulated exchange. The firm currently has assets under management of USD 2.9 billion.
Independent writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.