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SIX Swiss Exchange lists Ethereum-based ETP

Tue, 05 Mar 2019, 11:06 am UTC

Switzerland’s principal stock exchange, SIX Swiss Exchange, has launched trading of Ethereum-based exchange-traded product (ETP), Forklog reported.

According to the details, the product, ‘Amun Ethereum ETP,’ will trade under the ticker symbol “AETH.” Its annual management fee will be 2.5%.

This follows the launch of Amun Crypto Basket Index ETP in late November 2018, which trades under the ticker symbol “HODL.” In addition, SIX has also launched Bitcoin-based ETP last month under the ticker symbol “ABTC.”

Speaking to news.Bitcoin.com, a spokesperson from the Swiss financial regulator FINMA had clarified the difference between ETPs and ETFs (exchange-traded funds) saying:

“It is important to separate ETPs from ETFs, as ETPs are not subject to the Collective Investment Schemes Act (Cisa) and are therefore not supervised by Finma [Swiss Financial Market Supervision Authority].”

Last month, the stock exchange revealed that it plans to test blockchain integration for its upcoming “SIX Digital Exchange” (or SDX) in the latter half of this year.

Thomas Zeeb, Head Securities & Exchanges at SIX, explained that SDX is being developed as an “end-to-end trading, settlement, and custody platform for tokenized assets that will operate in a regulated environment.”

“[T]he first assets that we would like to tokenize as part of a minimum viable product (MVP), an early version of SDX, are securities that are already traded today on our exchange. We plan to take that step in mid-2019,” he added.

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