Wiener Börse welcomes its first crypto asset ETPs

Sep 1st, 2020 | By | Category: Alternatives / Multi-Asset

Wiener Börse (also known as the Vienna Stock Exchange) has welcomed its first crypto asset ETPs courtesy of a double launch from Zurich-based 21Shares.

Wiener Börse welcomes its first crypto asset ETPs

Wiener Börse is understood to be the third regulated exchange globally (after SIX Swiss Exchange and Deutsche Börse) to permit the listing of a crypto asset ETP on its official market segment.

The 21Shares Bitcoin ETP (21XB AV) and 21Shares Ethereum ETP (21XE AV) have listed on the exchange, providing exposure to the price movements of bitcoin and ethereum respectively.

The ETPs trade in euros and come with expense ratios of 1.49% and 2.50%.

Bitcoin is the world’s largest cryptocurrency by market capitalization with approximately a two-thirds market share. It has enjoyed a significant rally since mid-March and is currently up 72.0% year-to-date in US dollar terms (data as of 1 September).

Ethereum, the second-largest cryptocurrency with approximately a 12% market share, has produced an even superior return. It is up 233.1% thus far this year.

Each ETP is fully backed by physical investment in the underlying cryptocurrency while also maintaining the added oversight, security, and liquidity of an exchange-traded product.

Crypto ETPs also enable less technologically savvy investors to gain exposure to the asset class without having to engage with the technical challenges of setting up a cryptocurrency wallet, managing cryptographic keys, or trading on unregulated crypto exchanges.

Commenting on the listing, Hany Rashwan, CEO at 21Shares, said, “We are happy to share that Bitcoin is now accessible everywhere for both retail as well as institutional investors across the entire DACH region. We started with the Swiss market due to our home roots and having a crypto-friendly landscape. In July 2020, we entered the German market by listing ABTC on Deutsche Börse Xetra. This listing in Austria now gives all German-speaking countries easy exposure to this asset class. Outside the DACH region, no other jurisdiction globally provides such comprehensive and ample access to Bitcoin.”

Thomas Rainer, Head of Business Development at Wiener Börse, added, “With this important listing, the Vienna Stock Exchange is expanding its selection of asset classes. Experienced, local investors can now benefit from the stock market advantages in crypto trading: Monitored, regulated and transparent trading with real-time information and secure settlement via their regular brokers account.”

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