Swiss Stock Exchange (SIX) Joined By ETC Group For Bitcoin ETP Issuance

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Today, the Swiss Stock Exchange (SIX) has announced that it will welcome ETC Group, a financial services company based in London, into its fold. This will be done so that ETC Group can incorporate its exchange-traded product (ETP) based on Bitcoin. This product will have its primary ticker symbol be set at BTCE. The BTCE Product will be made available in the CHF, USD, and GBP currencies, respectively.

Integrating New ETPs to SIX’s Offering

As the official announcement stipulates, the BTCE product actively tracks Bitcoin’s price, and is completely backed by the physical assets. With ETC Group added to the fold, SIX boasts a total amount of 6 ETP providers on the exchange, offering 34 ETPs through them in the process

Christian Reuss stands as the Head of SIX Swiss Exchange, and gave comment about this recent incorporation. He openly welcomed ETC Group to SIX’s family of ETP providers, doing so through SIX offering their respective products of the providers on its platform. Reuss explained that the new product allows for SIX investors to gain access to 100 different crypto products by way of trading on the platform. Through doing so, Reuss highlighted the potential for investors to diversify their portfolios even more.

Reaching Monumental Crypto Numbers

Alongside this, SIX took the time to highlight the record numbers in regard to crypto product turnover thanks to investors holding a very powerful demand for them.

Indeed, the exchange has already seen the number of crypto-related trades reach an all-time high this year, amounting to 48,024. 2020 alone saw the crypto product trading turnover reach a total of 1.1 billion CHF, crossing the 1 billion barriers for the first time

SIX Holding A Bright Future

SIX gave out an official announcement celebrating this. The firm highlighted how the volumes broke past 1 billion CHF, and further highlighted how it had surpassed the previous all-time high of 525 million CHF by 110%. This previous ATH was achieved in the great crypto bull run of 2017.

Through the increase of both ETP providers and ETP products, SIX’s announcement stated that the Swiss Stock exchange had its position strengthened even more. SIX already stands as one of the leading marketplaces of the world when it comes to regulated crypto products, according to the announcement

Time will tell how successful this new integration will be, but SIX undoubtedly knows what it’s doing. Through the incorporation of crypto products, SIX aims to stay on the ball as cryptocurrencies as a whole become more and more integrated into mainstream financial products.

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