Bitcoin ETP Listed on Germany, Switzerland, Austria’s Leading Stock Exchanges
Notably, this is the third major stock exchange to list a bitcoin-related product, after the Deutsche Boerse Xetra – Europe’s third-largest exchange – and Switzerland’s SIX Exchange listed the ETP. 21Shares’ Bitcoin ETP (ABTC) and Ethereum ETP (AETH) started trading on the Vienna Stock Exchange this month.
In a statement, the Switzerland-based firm said the listing demonstrates institutional and regulatory acceptance of cryptocurrencies as an emerging asset class. The statement reads:
The two products ABTC and AETH are passported into Austria and authorized for distribution for both retail and institutional investors using a familiar and widely accepted financial structure.
The Bitcoin ETP was first listed on Switzerland’s SIX exchange before the firm launched it on Xetra, the Deutsche Boerse’s electronic trading venue. 21Shares’ Bitcoin ETP has a 1.49% management fee and is one of 11 crypto exchange-traded products that the firm offers. Its products track the prices of major cryptocurrencies like Bitcoin, Ethereum, XRP, and Binance’s BNB.
Commenting on the new listing Thomas Rainer, head of business development at the Wiener Börse said the listing meant the exchange has expanded its selection of asset classes, and added:
Experienced, local investors can now benefit from the stock market advantages in crypto trading: Monitored, regulated and transparent trading.
21Shares also has a short Bitcoin ETP that lets investors bet against the flagship cryptocurrency. Its managing director Laurent Kssis has in the past said the firm has lobbied to apply with it Deutsche Boerse to list the Short Bitcoin ETP (SBTC).
The firm reportedly has over $100 million in assets under management (AUM), but its CEO Hany Rashwan has said it aims to achieve $1 billion.