New product after ETP approval: six launches Ethereum based ETP

Switzerland's largest crypto stock market, six, launched an ETP (traded product) based in the Ethereum. Just a week ago, they started to offer their customers a BTC-supported ETP.

Ethereum launch was last year
Both ETP now charges 2.5 percent for management. Both products will be processed under the Aeth and ABTC brands. ETPs were created with the help of the Zug-based Amun AG crypto exchange. The Stock Exchange mentioned the launch of Ethereum-backed ETP for the first time in the fall of 2018. At the time, the company announced plans to create approximately five ETP based on BTC, ETH, BCH, XRP and LTC crypto assets.

Current estimates claim that ETH ETP will take 16.7 percent of its market share. As for the BTC, ETP is expected to win about half of the asset market. BCH and LTC will win 5.2 percent and 3 percent respectively, according to analysts.

Six to launch the SDX blockchain trading platform
A long time ago, the six Stock Exchange Krypto trading platform completed the test version of SDX and is now ready for testing. The platform is expected to be predicted by the community and released in the third quarter of this year.

Currently, the launch time is scheduled to be August-September. However, the exact date may vary depending on the decision of the Financial Supervisory Authority, which is Switzerland's financial regulator.

Crypto product prior to six
Previously, in late autumn 2018, when only interviews were made on recently released crypto-based ETPs, the six Stock Exchange had launched its first ETP product, HODL. This includes five of the largest crypto assets. XRP, BTC, BCH and LTC are among them.  Later this year, the stock market plans to offer more Krypto products for investors.