Digital currency continues to gain global institutional adoption and precedence as stock exchanges in Vienna and Singapore announce the listing of crypto-related products.
The Vienna Stock Exchange, commonly known as Wiener Börse, became the third regulated market globally to offer digital asset products after listing bitcoin exchange-traded products by 21Shares.
21shares is a fintech platform that specializes in cryptocurrency exchange-traded products (ETPs). The company offers 11 crypto ETPs throughout Europe. This listing marks the first time Ethereum has been offered on the Vienna Stock Exchange.
Exciting news today, our #Bitcoin and #Ethereum ETPs — ABTC and AETH are the first crypto-centric ETPs admitted on @wiener_boerse, the Vienna Stock Exchange, one of the most established exchanges in Central, Eastern, and Southeastern Europe! https://t.co/jX3UOnsytA
— 21Shares (@21Shares) September 1, 2020
The stock exchange notes that both ETPs, ABTC and AETH, are products that are particularly aimed at more experienced traders. The use of digital wallets are also not required as investors will be using their broker’s account.
Similarly, Singapore stock exchange SGX, in partnership with UK data analytics firm CryptoCompare, launched its new crypto indices. The indices fall under the SGX iEdge index suite, comprised of the iEdge Bitcoin Index and iEdge Ethereum Index.
Unlike what Wiener Börde is offering, the indices on SGX do not allow users to trade digital currency. However, firms in the country can use the price feeds. The SGX indices will benefit companies that are trying to launch BTC or ETH products by offering a secure way to track real-time price fluctuations of crypto assets.
Vienna Stock Exchange listings enable ‘DACH’ nations access to Bitcoin ETPs
While expressing his excitement with the new listing, 21Shares CEO Hany Rashwan noted that Wiener Börse’s new listing would enable all three countries in the “DACH” region (Germany, Austria, and Switzerland) access to 21Shares’ Bitcoin ETPs.
He said, “We are happy to share that Bitcoin is now accessible everywhere. … The listing in Austria now allows all German-speaking countries easy access to this asset class. Outside the DACH region, no other jurisdiction in the world offers such comprehensive access to Bitcoin.”
Vienna Stock Exchange Head of Business Development Thomas Rainer explained that the new listing would offer experienced investors a new opportunity to diversify their portfolios.
He said, “With the listings, the Vienna Stock Exchange is expanding its selection of asset classes. This will also enable investors to benefit from the market advantages in crypto trading: monitored and transparent trading with real-time information and secure settlement via their securities depository.”
Simon Karaban, SGX’s head of index services, disclosed he was glad about the listing. He also said that the world was moving quickly towards digitalization in the creation and accumulation of wealth. Such digitalization makes digital assets more important and increasingly adopted by investors.
Other listings of digital assets ETPs
In July, 21Shares’ Ethereum and Bitcoin ETPs were also integrated for trading on Frankfurt-based Deutsche Boerse Xetra. According to 21Shares, the crypto products can also be found on BX Swiss and Boerse Stuttgart.
21Shares has more than $100 million in total listed assets under management. The company offers 11 varied crypto exchange-traded products. Of the bunch, six are single asset products tracking the price of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP), Binance (BNB), and Tezos (XTZ). Four are index-ETPs: Crypto Basket Index, Bitcoin Suisse Index, Sygnum Platform Winners Index, and Bitwise Select 10. Finally, there is one inverse ETP product, SBTC.
Additionally, as previously reported, Binance’s collaboration with Amun AG also got BNB listed on the Swiss stock exchange as an ETP in 2019.