The Swiss Stock Exchange announced the addition of Iconic Funds BTC ETN GmbH as a new ETP issuer. This is the fourth crypto ETP issuer to join the exchange in 2021. The number of trading products on SIX Swiss Exchange reaches 92.
Christian Reuss, Head SIX Swiss Exchange said:
Christian Reuss Source: LinkedIn
Investors looking for collateralised investment products granting access to crypto currencies increasingly turn to SIX. With its wide product offering, SIX is a world leader: 10 different single crypto currencies are accessible via ETPs and structured products on our platform. A warm welcome to Iconic Funds joining our issuer ranks and further expanding the product range.
SIX has seen strong growth in trading turnover in crypto products. In the first five months of 2021, CHF 4.5 billion have been traded on SIX, which is more than a whole year since crypto products were first admitted for trading at the exchange in 2016. This amount is already 289% more than the previous year.
The new Iconic Funds Physical Bitcoin ETP, available in two trading currencies, will offer investors a selection of 32 Bitcoin ETPs and structured products at SIX to choose from. The number of ETP issuers now rises to nine, following the recent addition of ETC Group as well as CoinShares and SEBA Bank in the first four months of 2021.
Launched in 2019, Iconic Funds GmbH is a joint-venture of Iconic Holding GmbH and publicly-listed Cryptology Asset Group Ltd. The company aims to to drive the adoption of crypto assets. Iconic serves as a bridge for investors to dip their tows in crypto assets with its licensed and regulated vehicles which offer investors a range of investment choices, from passive index exposure to actively-managed strategies.
The official announcement said:
The Iconic Funds Physical Bitcoin ETP (XBTI) tracks the price of Bitcoin (BTC). The ETP is 100% physically backed by BTC and stored in cold storages of regulated crypto custodians with an additional third party insurance.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
