Swiss Exchange SIX launching an Ethereum ETP week after BTC ETP

06 Mar, 2019
by David Borman
Adoption
Swiss Exchange SIX launching an Ethereum ETP week after BTC ETP

Invest in Blockchain is reporting that major Swiss exchang SIX has announced the introduction of an Ethereum backed exchange-traded-product (ETP) on their platform. This comes only a week after the launch of a similar Bitcoin ETP and the HODL5 fund, an index of 5 leading cryptocurrencies.

The new Ethereum ETP, listed under AETH, was officially made available as of March 5th. All of these crypto backed financial products are being issued by Amun AG and are traded against US dollars (USD).

It should be noted that an ETP is not the same as an ETF (exchange traded fund) and does not require the same level of approval from government authority. Therefore while this is an exciting step forward for crypto being accepted into a larger financial world, this news doesn't stand to make as big of a splash as the innevitable ETF approval probably will.

SIX is among the most crypto-friendly traditional exchanges in the world. It currently is offering more crypto based products than any other major exchange and is the first to offer ETPs based upon digital assets.

This does show that institutional adoption is still growing, and perhaps if more products like this could be offered from trusted exchanges, mainstream adoption of Ethereum and Bitcoin could happen much sooner.

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