Swiss Stock Exchange Launches Exchange-Traded Product Based on Ethereum

According to SIX's website, SIX Swiss Exchange, the main stock exchange in Switzerland, began trading ETFs based on Ethereum (ETH) on March 5, with the support of Amun AG, a swiss start-up company in Switzerland. Ethereum will be traded under the AETH index. Ethereum ETP management fees will be 2.5 percent . 

SIX's Ethereum ETP was first announced in November 2018, SIX Swiss Exchange will list five cryptocurrency-based ETP, including Bitcoin (BTC), Ripple (XRP) , Bitcoin Cash (BCH) , Litecoin (LTC) and Ethereum. 

According to the article, the Ethereum ETP will gain a market share of 16.7 percent, while Bitcoin will account for about half of ETP assets. Ripple will acquire 24.4 percent of the market value, while Bitcoin Cash and Litecoin will account for 5.2 and 3 percent of the market, respectively.

Recently, SIX set up blockchain integration testing in its upcoming parallel digital trading platform, SDX, which will be launched in the second half of 2019. 

The final launch date of the new platform is expected to be finalized in summer, and the exact date still needs to be clarified with the Financial Market Regulatory Authority, Swiss market regulator.