SIX Swiss Exchange Launches Ethereum-Based Exchange-Traded Product
Swiss principal stock exchange SIX Swiss Exchange has started live trading of its Ethereum-based ETP today.
Amun Ethereum (AETH) ETP Listing on SIX Swiss Exchange. Source: SIX Group
Backed by the Swiss startup Amun AG, the new Ethereum-based ETP will be trading under the index AETH. The management fee of Ethereum ETP will amount to 2.5 percent.
SIX Group’s Ethereum ETP was first announced in November 2018, with SIX Swiss Exchange revealing that it will list five cryptocurrency-based ETPs, including Bitcoin (BTC), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum.
According to the article, Ethereum ETP is set to acquire a market share of 16.7 percent, while Bitcoin is set to account for around half of the ETP’s assets. Ripple, now the third-top cryptocurrency, will acquire a market cap of 24.4 percent, while Bitcoin Cash and Litecoin are set to account for 5.2 and 3 percent of the market, respectively.
The finalization of the launch date of the new platform is expected in late summer, with the exact date remaining subject to legal and regulatory clarification with the Financial Market Supervisory Authority, the Swiss market regulator.