VanEck lists Bitcoin and Ethereum ETPs in Switzerland

Rick Steves

These ETPs provide investors with exposure to the price of Bitcoin and Ethereum without having to buy the cryptocurrencies themselves. Both ETPs are fully collateralized.

VanEck ETP AG has become a new issuer of Exchange Traded Products (ETPs) on the SIX Swiss Exchange, with four new listings of crypto ETPs.

With the addition of the VanEck ETPs, the exchange now boasts a total of 100 ETPs and Structured Products with cryptocurrencies as underlyings offered for trading.

VanEck Investments is an ETF issuer at SIX since 2015, currently offering 20 ETFs for trading at SIX and ranking among the top 10 ETF issuers in relation to number of trades year to date.

Their new product offering rises the number of ETP issuers at SIX to 10 and brings the number of new ETP issuers for the current year to 5 – after ETC Issuance GmbH, CoinShares Digital Securities Limited, SEBA Bank and Iconic Funds BTC ETN GmbH.

These ETPs provide investors with exposure to the price of Bitcoin and Ethereum without having to buy the cryptocurrencies themselves. Both ETPs are fully collateralized.

Christian Reuss, Head SIX Swiss Exchange, said: “Ethereum is the second most liquid crypto currency after Bitcoin. We’re proud to offer 59 products on the two most liquid crypto currencies for trading with a market capitalization of USD 1’000 bn. – SIX is a world leader with its wide crypto product offering, also on an additional 8 crypto currencies. A warm welcome to VanEck ETP AG joining our issuer ranks and further expanding the product range”.

Since the beginning of the year, a volume of nearly CHF 4.6 bn has been traded in products on crypto currencies at SIX – that is an increase of 310% compared to the whole previous year. 6 out of the top 10 crypto products by trading turnover year to date are on Bitcoin and Ethereum.

For the majority of this volume investors increasingly turn to collateralized ETPs. These numbers underline the strong position of SIX as the world’s leading regulated market place for products with crypto currencies as underlying.

Now that the Spanish stock exchange BME is a subsidiary of SIX Group, following an acquisition deal in 2020, it is likely that the upcoming platform migration will result in the crypto listing being offered to Spanish investors.

VanEck is a New York-based investment management firm with a history of identifying new trends, having been one of the first asset managers to offer investors access to gold investing in 1968. The FX market was never the same a few years after that with the Nixon shock, where the United States decided the unilateral cancellation of the direct international convertibility of the United States dollar to gold.

The asset manager also entered emerging markets in 1993, and Exchange Traded Funds in 2006. Today, VanEck offers active and passive strategies with wide exposures.

While VanEck keeps on listing their ETPs to provide investors with exposure to Bitcoin et al., the SEC and CFTC released a joint statement warning retail investors considering going that route to weigh carefully the potential risks and benefits of the investment.

In March, State Street announced that it was appointed as the fund administrator and transfer agent of the VanEck Bitcoin Trust (‘The Trust’) a new bitcoin exchange-traded fund (ETF) that is currently pending approval by the US Securities and Exchange Commission (SEC).

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