Hot temperatures are doing little to stop the crypto-asset industry from growing rapidly this summer. And Switzerland is the epicenter of crypto innovation for financial products.
Over the past few months, we have seen all major crypto assets steadily appreciate in value. Since 01 July 2020, Bitcoin grew by 27.4%*. During the same time, Ethereum grew by 71.5% and Tezos by 72.4%. Year-to-date growth of Bitcoin, Ethereum, and Tezos is 63.8%, 228.2%, and 207.4%, respectively. The question now is how investors can make a prudent and sound investment accessing this nascent but rapidly-growing asset class while we are still seeing signs of strong institutional demand across Switzerland and Europe.
The SIX Swiss exchange has played a critical role as an exchange venue with the largest number of ETP issuers promoting new crypto products. In addition, BX Swiss – the second-largest stock exchange in Switzerland – has made leaps into the retail market by giving access to six of the 21Shares ETPs in CHF to a majority of Swiss retail investors. 21Shares has also been able to use the SIX listing as a base to expand into more European markets, with its Bitcoin ETP listing on Deutsche Borse XETRA and other ETPs to be announced pending regulatory clearance.
Volumes on the secondary exchange markets are increasing steadily as demand from retail and institutional investors is accelatering. In the first two weeks of August alone, 21Shares saw trading volumes increase to CHF 18.5 million across its eleven products. This accounts for around 75% of total volume of crypto-related products on the largest Swiss exchange.
Commenting on this achievement, Hany Rashwan, CEO of 21Shares said: “This great milestone after only a year in the market across Europe shows how well investors have embraced our products. With eleven total products available in four currencies including GBP, 21Shares has by far the largest product suite in the industry and now one of the fastest-growing as well. Now that the important $100 million mark is met, we can focus on our next target: $1 billion!”
The Swiss landscape for investing in crypto assets is now clear. 21Shares was the first in the world to have issued products in a regulated framework launching in November 2018 the famous HODL crypto basket and consecutively in 2020 the first inverse Bitcoin ETP.
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