21Shares AG, based in Switzerland, is one of the first to offer crypto exchange-traded products (ETPs) and has declared the introduction of seven new ones on the SIX Swiss Exchange.
ETP are “securitized, non-interest paying debt securities designed to resemble the performance of an underlying asset,” and 21Shares’ ETP “recreate the output of the crypto asset (Bitcoin, Ethereum, Ripple, Bitcoin Cash) or the index it tracks (HODL5, BIT10, ABBA),” according to the company.
The distinction between ETP and ETF is explained by 21Shares:
“Although ETPs are formed and operated in much the same way as traditional Exchange Traded Funds (ETFs), the main difference is that ETPs are debt instruments issued by a Special Purpose Vehicle (SPV) rather than ETFs.”
1. Cardano ETP (21Shares) (ISIN: CH1102728750, Bloomberg Ticker: AADA SW, Custody: Coinbase, Market Maker: Flow Traders)
2. Solana ETP (21Shares) (ISIN: CH111487377, Bloomberg Ticker: ASOL SW, Custody: Coinbase, Market Maker: Flow Traders)
3. Polkadot (ISIN: CH0593331561, Bloomberg Ticker: ADOT SW, Custody: Coinbase, Market Maker: Flow Traders)
With these additions to 21Shares’ ETP lineup, the company now has 20 single-asset ETP and seven indexes ETP to choose from. “We built HODL, the world’s first crypto ETP on the SIX Swiss Exchange,” according to 21Shares. “Investing in crypto assets as straightforward as buying shares using your traditional broker or bank,” according to 21Shares’ crypto ETP.
Switzerland’s major stock exchange, SIX Swiss Exchange — formerly known as SWX Swiss Exchange — is situated in Zurich. “It also trades other securities including Swiss government bonds and derivatives like stock options,” according to the company. SIX Group, an unlisted public limited company controlled by 122 banks and financial organizations, owns it entirely.
It was the world’s first stock exchange to have a completely automated trading, clearing, and settlement system.
SIX Swiss Exchange manages a number of important indices. The SMI, or Swiss Market Index, is the most well-known index, consisting of the SPI’s 20 largest and most liquid businesses. The SPI, or Swiss Performance Index, includes over 200 companies that are listed on the exchange and meet certain criteria.
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