ETC Group Joins SIX to Issue Bitcoin ETP

SIX announced today that it has welcomed the London-based financial services company, ETC Group to list a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchange-traded product (ETP) with a primary ticker symbol of BTCE. The trading product is available in three different currencies including the USD, CHF and GBP.

According to the official announcement, the newly launched trading product (BTCE) tracks the price of Bitcoin and is 100% physically backed. The addition of ETC Group takes the total number of ETP providers at the Swiss Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term to 6. The exchange now offers a total of 34 ETPs.

Commenting on the recent addition, Christian Reuss, Head of SIX Swiss Exchange, said: “We welcome ETC Group to the family of ETP providers offering their products at SIX. With the new product, investors gain access to 100 different crypto products trading on our platform and with this have even more opportunities to diversify their portfolio.”

Growing Demand for Bitcoin and Crypto Products

Additionally, the exchange highlighted record trading turnover in crypto products as a result of strong demand from investors. The total number of Bitcoin and crypto-related trades at the exchange reached an all-time high of 48,024 this year. In 2020, the trading turnover in crypto products reached CHF 1.1 billion, crossing the barrier of CHF 1 billion for the first time. Compared to 2017, crypto trading turnover at the exchange jumped more than 100%.

“The Swiss Stock Exchange has registered a break of the CHF 1 billion barrier in trading turnover in crypto products for the first time with CHF 1.1 billion in 2020, which surpassed the record CHF 525 million from 2017 by 112%; the number of trades reached a new record of 48,024. ETC Group lists a Bitcoin ETP, taking the number of ETP providers to six and the number of ETPs to 34, further strengthening the position of the Swiss Stock Exchange as the world’s leading marketplace for regulated crypto products,” the official announcement by SIX states.