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Switzerland approves Crypto ETP, Chance for Bitcoin ETF?


Listings of Crypto exchange-traded products (ETP) has been approved by SIX Swiss, Switzerland’s premium stock exchange, based in Zurich this week. ETP represents the values of 5 cryptocurrencies including Bitcoin, Ripple, Litecoin, Bitcoin cash, and Ethereum. Investors in ETP will hold a bunch of cryptocurrencies which are expected to meet the requirements laid down by the investment firms.
An Index displays a value representing the prices of assets according to its own calculations and methods which is very unlike actual assets such as gold and stocks.
Does that mean the chances of Bitcoin ETF approval increases? Well, it doesn’t. ETP is very similar to ETF as it allows all institutional investors as well as accredited retail traders to invest in digital assets without any custodians or regulatory hurdles. Hany Rashwan, Co-founder and chief executive of Amun says that’’ The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments’’
Although the central stock exchange of Switzerland has approved of crypto, ETP is already existent in the form of Grayscale investments (Bitcoin Investment Trust) in the US market. SEC, US securities and exchange commission was pitched with the Bitcoin ETF proposal by Winklevoss twins who based the price of BTC on a regulated exchange called Gemini. According to the SEC, the cryptocurrency exchange market is not mature enough to handle an ETF.
How do we increase the probability of BTC ETF approval? To improve the chances of BTC ETF being approved, companies who are in terms with the SEC need to offer validating solutions to SEC’s issues that the exchange market of cryptocurrencies and future markets are not the core aspects to determine the real value of a BTC.


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