The SIX exchange writes that iShares has become the 20th issuer of ETPs with crypto-assets as underlyings.
iShares has listed its inaugural European listed product on bitcoin. With this launch, iShares lifts the total number of listed crypto products at SIX to 487.
The iShares Bitcoin ETP further expands the range of crypto ETPs available at SIX, offering investors direct access to bitcoin through a familiar and transparent exchange-traded structure. Each ETP security corresponds to a specific amount of bitcoin, known as the crypto asset entitlement, and is fully backed by bitcoin held in cold storage by Coinbase Custody International Limited, the issuer’s custodian. The ETP is traded in Swiss Francs and supported by leading market makers, providing liquidity and efficient trading.
In the first seven months of this year, the 194 crypto-ETPs listed at SIX Swiss Exchange have generated a trading turnover of CHF 2.3 billion across 116,000 trades. This represents a 44.5 per cent increase compared to same period of the previous year. Of the total 194 ETPs with crypto-asset underlyings, bitcoin leads in trading volume with a share of at 36.1 per cent YTD, followed by Solana at 23.0 per cent. The launch of this new ETP reflects the growing investor interest in crypto products, the firm says.
Omar Moufti, Crypto Product Strategist, iShares, states: “We believe ETPs have an important role to play to build a bridge between crypto and traditional finance through their efficiency and convenience. Alongside the easy and regulated access, the iShares Bitcoin ETP is designed to offer institutional investors a stable and reliable way to gain exposure to bitcoin.
Danielle Reischuk, Senior ETFs & ETPs Sales Manager, SIX Swiss Exchange, adds: “We are delighted to welcome iShares as a new issuer at SIX Swiss Exchange with their first crypto ETP. The launch of the iShares Bitcoin ETP underscores our commitment to expanding the range of digital asset products available to investors. By providing a stable and efficient trading environment, we continue to make digital assets more accessible and transparent for the Swiss financial market and its investors. iShares’ entry further strengthens our position as a leading venue for innovative investment solutions.”
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