Crypto

SIX launches an ETP based Ethereum


Switzerland's largest crypto stock exchange SIX launched an Ethet-based ETP (stock exchange). Just a week ago they started offering a BTC-supported ETP to their customers

The launch of Ethereum was made last year

Both ETPs now have a 2.5 percent charge for administration. Both products will be traded under the AETH and ABTC brands. The ETPs were created with the help of the Zug-based Amun AG crypto exchange. The SIX Stock Exchange first spoke about the launch of the Ethereum-supported ETP for the first time in the autumn of 2018. At that time, the company BTC announced plans to build up to five ETPs based on BCH, XRP and LTC crypto assets.

The current estimates claim that the ETH ETP will receive 16.7 percent of the market share. As for BTC, the ETP is expected to win about half of the asset market. BCH and LTC will win 5.2 percent and 3 percent respectively, according to analysts.

SIX SDX to launch Blockchain trading platform

Not too long ago, the test version of the SIX Exchange crypto trading platform SDX finished and now ready for trials. The platform is expected to be foreseen by the community and released in the third quarter of this year.

Currently, the exact time of the launch is planned as August-September. However, the exact date may vary depending on the decision of the Financial Market Supervisory Authority, the financial regulator of Switzerland.

Crypto product before SIX

Previously, about the recent crypto-based ETPs released in late autumn 2018 the SIX Exchange launched the first ETP product, HODL . This covers five of the largest crypto assets. XRP, BTC, BCH and LTC are among them. Later this year, the stock market is planning to offer more crypto products for investors

U.Today

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