One of the most common barriers to institutional investing in cryptocurrency is the lack of trading venues offering crypto-related products that provide this class of investors the same security they enjoy in the traditional markets without directly allowing them to hold cryptocurrencies.
To this end, several crypto exchange-traded products have hit the market in recent times with efforts to bring them to more mainstream exchanges still pending regulatory approval.
Today, however, the Bitcoin Cash community had some good news to cheer on after Switzerland-based Six Stock Exchange added what is arguably the first ever exchange-traded product tracking the altcoin.
As per a report by BCH-focused news agency, Bitcoin.com, the new exchange-traded product has the ticker, ABCH and represents the sixth Amun crypto-asset trackers available on Six Swiss Stock Exchange.
The dollar-denominated product would require a 2.5% annual investor fee with Bitcoin Cash pioneer Roger Ver seeding it with a 25,000 BCH investment, worth approximately $10 million at the time of writing.
As we mentioned earlier, the new Bitcoin Cash ETP on the Swiss Stock Exchange is not the only such crypto product trading on Switzerland’s largest stock exchange. Instead, it joins existing single crypto trackers for Bitcoin (ABTC), Ethereum (AETH) and Ripple (AXRP) with the other two products tracking the top five and top ten cryptos respectively.
Listing crypto ETPs, however, is not the only inroad that Swiss Stock Exchange is making in the crypto industry.
We’ve reported in the past Six Swiss is working towards the launch of a digital securities trading platform, and more recently requested that the Swiss National Bank issues a digital currency to aid operations on the yet-to-be-launched market.