VanEck Lists Bitcoin and Ethereum ETPs on SIX

VanEck, a New York-based investment management firm, has listed four new cryptocurrency exchange-traded products (ETPs) on SIX, Switzerland’s leading stock exchange.

Officially announced on Friday, the newly listed products will give investors exposure to the prices of the top two digital currencies: Bitcoin and Ethereum. They can be traded against both the US dollar and Swiss franc.

Exchange-traded cryptocurrency products are seen as a gateway for mainstream adoption. Traders can cut short the technicalities of cryptocurrency trading and purchase and sell the assets directly from their regular brokerage accounts.

Altcoin Demand Is Soaring

VanEck has become one of the many companies with their crypto products listed on the Swiss exchange. Additionally, SIX earned the reputation of becoming a crypto-friendly venue with a total of 100 crypto ETPs and structures products.

Though the initial rush was only for Bitcoin, demand for top altcoins like Ethereum is also gearing up.

“Ethereum is the second most liquid cryptocurrency after Bitcoin,” said Christian Reuss, Head SIX Swiss Exchange. “We’re proud to offer 59 products on the two most liquid Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term for trading with a market capitalization of USD 1,000 bn.”

Moreover, the Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term in the cryptocurrency market spiked the demand for such exchange-listed products. SIX revealed that nearly CHF 4.6 billion in volume of its listed cryptocurrency products have been traded since the beginning of this year. That was a 310 percent gain compared to the figures for the entire 2020.

In addition, VanEck is approaching other European exchanges with its crypto products. At the end of last month, the company listed Bitcoin and Ethereum exchange-traded notes on Euronext’s Amsterdam and Paris exchanges.

Meanwhile, the company could not manage to gain approval from the United States financial markets regulator for the listing of a much-anticipated Bitcoin exchange-traded fund (ETF). VanEck is one of the many companies whose applications are currently being reviewed by the SEC.