SEBA Bank Joins SIX as Crypto ETP Issuer

The Swiss Stock Exchange (SIX) announced today that SEBA Bank has joined the exchange as a new ETP issuer. The bank will launch four new crypto ETPs tomorrow.

According to the official announcement, SEBA Bank has joined SIX as the third ETP issuer this year. In January 2021, ETC Group, a leading financial services provider, listed its Bitcoin exchange-traded product (ETP) on the Swiss Stock Exchange with a primary ticker symbol of BTCE. Finance Magnates also reported about the launch of a crypto ETP by CoinShares on SIX.

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While providing details about regulated crypto products, the Swiss Stock Exchange mentioned that it has seen more than 71,240 trades and approximately CHF 2.42 billion trading turnover since the start of this year.

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Commenting on the latest announcement, Christian Reuss, Head of SIX Swiss Exchange, said: “When allocating their assets to crypto, investors are increasingly making the conscious decision in favor of the Swiss Stock Exchange as it offers crucial advantages like transparency, liquidity and fair as well as orderly pricing. With the new products from SEBA, investors have the comprehensive range of 79 crypto products to choose from.”

Crypto Products

Retail and institutional interest in crypto-related investment products has grown significantly in the last few months. In February 2021, Finance Magnates reported about the launch of the world’s first Polkadot ETP on SIX. As a result of a growing interest in a wide range of financial products, the SIX Group saw a substantial surge in operating income as the total operating income for 2020 reached CHF 1,375.9 million, which was a 21.8% jump compared to 2019.

“Interest in Bitcoin continues to grow. In the sixth year after the admission of crypto products to trading at SIX, seven ETP and structured products issuers offer products on eight different cryptocurrencies. SEBA Bank will list a Bitcoin as well as an Ethereum and a crypto basket ETP, taking the number of ETPs to 51,” SIX mentioned in the official announcement.

Source: https://www.financemagnates.com/cryptocurrency/news/seba-bank-joins-six-as-crypto-etp-issuer/