The Austrian stock exchange will now list a Bitcoin exchange-traded product (ETP) and an Ethereum ETP starting this week. It becomes the third exchange to do so, according to a press release Tuesday.
Institutional Access to Bitcoin and Ethereum
Wiener Börse, the Vienna Stock Exchange, becomes the 3rd exchange venue globally to admit a Bitcoin ETP Product on its official “regulated’ market segment. The move makes the Swiss-based ETP issuer 21Shares AG the first Bitcoin and Ethereum Products to the official market on the Austrian exchange bringing more security, transparency, and cost-effective access to investors seeking exposure to this alternative asset class.
Starting effectively from 1st September 2020 the 21Shares Bitcoin ETP and the 21Shares Ethereum ETP can be traded on the official market of the Vienna Stock Exchange.
As a result of the listing on the Vienna Stock Exchange, the largest exchange in each of the three DACH (Germany, Austria, and Switzerland) countries has now admitted a Bitcoin ETP.
This achievement further demonstrates institutional – and more importantly regulatory – acceptance of the cryptocurrency sector. The two products ABTC and AETH are passported into Austria and authorized for distribution for both retail and institutional investors using a familiar and widely accepted financial structure.
Hany Rashwan, the CEO of 21Shares AG, commented on the listing:
“We are happy to share that Bitcoin is now accessible everywhere for both retail as well as institutional investors across the entire DACH region.”
European Investors get a Regulated Crypto Market
Rashwan added the firm first entered the German market by listing ABTC on Deutsche Boerse XETRA and that this listing in Austria now gives all German-speaking countries easy exposure to this asset class.”
Meanwhile, Thomas Rainer of the Wiener Börse said all experienced and local investors can now benefit from the stock market advantages in crypto trading, ensuring they get monitored, regulated, and transparent trading with real-time information and secure settlement via their regular brokerage account.
21Shares AG is one of Europe’s most innovative startups, pioneering the mainstream adoption of digital assets via a sophisticated ETP structure familiar to many who have a demand to invest in asset classes such as precious metals or commodities.
The growth of the cryptocurrency market is reflected in 21Shares’ growth in Assets under Management which has seen its assets surpass USD 100 million in less than two years.