21Shares Launches ‘World’s First Physically-Backed’ ETPs for $ADA, $SOL, and $DOT on SIX Swiss Exchange

On Thursday (March 10), Switzerland-based 21Shares AG, which is considered one of the pioneers in issuing crypto exchange-traded products (ETPs), announced launched seven new products (in CHF) on the SIX Swiss Exchange.

SIX Swiss Exchange — previously known as SWX Swiss Exchange — which is based in Zurich is Switzerland’s main stock exchange. It also “trades other securities such as Swiss government bonds and derivatives such as stock options.” It is “completely owned by SIX Group, an unlisted public limited company itself controlled by 122 banks or financial institutions.”

ETPs are “collateralized, non-interest paying debt securities designed to replicate the performance of an underlying asset and in the case of 21Shares’s ETPs, its products “replicate the performance of the crypto asset (Bitcoin, Ethereum, Ripple, Bitcoin Cash) or the index it tracks (HODL5, BIT10, ABBA).”

Here is how 21Shares explains the difference between ETPs ETFs:

“Although ETPs are structured and operate very similarly to traditional Exchange Traded Funds (ETFs), the primary difference between the two is that ETPs are debt securities issued by a Special Purpose Vehicle (SPV) instead.“

According to a tweet posted earlier today, ETPs for the following cryptoassets are now available in CHF on the SIX Swiss Exchange:

Here are a few details about the $ADA, $SOL, and $DOT physically-backed ETPs:

  • 21Shares Cardano ETP (ISIN: CH1102728750, Bloomberg Ticker: AADA SW, Custody: Coinbase, Market Maker: Flow Traders)
  • 21Shares Solana ETP (ISIN: CH111487377, Bloomberg Ticker: ASOL SW, Custody: Coinbase, Market Maker: Flow Traders)
  • 21Shares Polkadot ETP (ISIN: CH0593331561, Bloomberg Ticker: ADOT SW, Custody: Coinbase, Market Maker: Flow Traders)

These additions to 21Shares’ ETP lines means that it now offers 20 single-asset ETPs as well as seven index ETPs. In 2018, 21Shares “built HODL, the world’s first crypto ETP on the SIX Swiss Exchange.” 21Shares’ crypto ETPs make “investing in crypto assets as easy as buying shares using your conventional broker or bank.”

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Featured Image by “ChiemSeherin” via Pixabay

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