The Swiss stock exchange SIX welcomes iShares as the 20th issuer of exchange-traded products (ETPs) with cryptocurrencies as the underlying asset. The BlackRock fund company is listing its first Europe-listed product on Bitcoin, increasing the total number of crypto products listed on SIX to 487.
The iShares Bitcoin ETP expands SIX’s range of crypto ETPs and offers investors direct access to Bitcoin through a regulated and transparent exchange trading infrastructure. Each ETP security corresponds to a specific amount of Bitcoin, known as a crypto asset entitlement, and is fully backed by Bitcoin. The assets are held by Coinbase Custody International Limited, the issuer’s licensed custodian. The ETP is traded in Swiss francs and supported by three leading market makers who ensure liquidity and efficient trading.
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Delayed launch in Switzerland
The ETP was issued by a special purpose vehicle based in Switzerland and has been listed since March on Xetra, Euronext Paris, and Euronext Amsterdam. Now, the Bitcoin product is also tradable on SIX. According to Dirk Klee, CEO of BlackRock Switzerland, the Swiss team played a crucial role in developing the new financial product. Finews quoted the country head as follows:
“There is a lot of Switzerland in the iShares Bitcoin ETP. We at BlackRock Switzerland were significantly involved in its development. [...] We are convinced that ETPs can play an important role in building a bridge between crypto and the traditional financial world – thanks to efficiency and user-friendliness.” – Dirk Klee, CEO BlackRock Switzerland
Digital assets flood the SIX
In the first seven months of this year, the 194 crypto ETPs listed on SIX Swiss Exchange generated a trading turnover of CHF 2.3 billion across 116,000 transactions. This represents an increase of 44.5% compared to the same period last year. Of the total 194 ETPs with crypto asset underlyings, Bitcoin has led trading volume since the start of the year with a 36.1% share, followed by Solana with 23.0%. The introduction of the new ETP reflects growing investor interest in crypto products, according to a SIX press release.
“We are pleased to welcome iShares as a new issuer on SIX Swiss Exchange with its first crypto ETP. The launch of the iShares Bitcoin ETP underscores our commitment to expanding the range of digital asset products for investors. By providing a stable and efficient trading environment, we continue to make digital assets more accessible and transparent for the Swiss financial market and its investors. The entry of iShares further strengthens our position as a leading hub for innovative investment solutions.” – Danielle Reischuk, Senior ETFs & ETPs Sales Manager at SIX Swiss Exchange
