Switzerland’s primary stock exchange, SIX Swiss Exchange, has launched trading of an Ethereum exchange-traded product

Switzerland’s primary stock exchange, SIX Swiss Exchange, has launched trading of an Ethereum (ETH)-based exchange-traded product (ETP) on March 5, according to SIX Group’s website.

Amun Ethereum (AETH) ETP Lising on SIX Swiss Exchange. Source:  SIX Group

Amun Ethereum (AETH) ETP Lising on SIX Swiss Exchange. Source: SIX Group

Backed by the Swiss startup Amun AG, the new Ethereum -based ETP will be trading under the index AETH. The management fee of Ethereum ETP will amount to 2.5 percent.

SIX Group’s Ethereum ETP was first announced in November 2018, with SIX Swiss Exchange revealing that it will list five cryptocurrency-based ETPs, including Bitcoin (BTC), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and Ethereum.

According to the article, Ethereum ETP is set to acquire a market share of 16.7 percent, while Bitcoin is set to account for around half of the ETP’s assets. Ripple, now the third-top cryptocurrency, will acquire a market cap of 24.4 percent, while Bitcoin Cash and Litecoin are set to account for 5.2 and 3 percent of the market, respectively.

Also read: U.S. crypto exchange ErisX hired former Wells Fargo executive Kyle Unterseher as a business development executive

Source: https://cointelegraph.com/news/six-swiss-exchange-launches-ethereum-based-exchange-traded-product