Bitcoin, Ethereum become first crypto-ETP to be traded on Vienna Stock Exchange
The Vienna Stock Exchange (Wiener Boerse) today listed both Bitcoin and Ethereum products on its regulated market for the first time.
Both BTC and ETH will be available to trade as an exchange-traded product (ETP) issued by Switzerland based start-up 21Shares. Bitcoin ETC will trade under ABTC and Etereum ETP under AETH. 21 Shares had previously applied to list its Bitcoin ETP on Deutsche Boerse XETRA stock exchange in Germany which was accepted by the exchange in July 2020.
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
This move makes the DACH region (Germany, Austria and Switzerland) based exchange the third exchange in the world to list a Bitcoin product.
The products are listed under the following ticker symbols: 21Shares Bitcoin ETP (ABTC – WKN A2T64E – Ticker 21XB) and the 21Shares Ethereum ETP (AETH – WKN A2T68Z – Ticker 21XE). Traders dealing with both the crypto products on the national exchange will not require a digital wallet, in which cryptocurrencies are stored for direct investments.
The Vienna Stock Exchange is the largest exchange in each of the three DACH countries, which has now made Bitcoin accessible for retail and institutional investors.
Many see this regulatory decision by the national exchange as a way forward for the DACH nations to establish itself as a leader in the cryptocurrency ecosystem. Prior to this listing, the SIX Swiss Exchange in Switzerland and the Deutsche Boerse XETRA stock exchange in Germany, have regulated crypto trading
Head of Business Development at Vienna Stock Exchange, Thomas Rainer said:
Crypto-currencies offer experienced investors a new opportunity to diversify their portfolio. With the listing, we widen the selection of asset classes on the Vienna Stock Exchange.
Investors can profit from the stock exchange advantages in crypto trading: Monitored, regulated and transparent trading with real-time information and secure settlement via their regular brokers account.
On the other hand, the European start-up 21Shares AG which was founded in 2018, focuses on the adoption of digital assets via the ETP structure.