Zurich Stock Exchange: New Crypto ETPs on Ethereum and Solana
Figment and Apex Group are set to launch new crypto ETPs on the Zurich stock exchange, offering convenient access to staking rewards for a wider audience through traditional brokers or banks. These ETPs will be available on the SIX Swiss Exchange through Issuance.Swiss AG starting March 12, 2024.
- The Figment Ethereum Plus Staking Rewards ETP (ETHF) and Figment Solana Plus Staking Rewards ETP (SOLF) will have management fees of 1.5%.
- Both ETPs are fully collateralized in physical ETH and SOL, allowing investors to benefit from over 50% of the premium on staking rewards without handling the underlying tokens.
- Liquidity will be provided by existing ETP market makers on the stock exchange.
The Zurich Stock Exchange
The SIX Swiss Exchange, based in Zurich, is Switzerland’s primary stock exchange, founded in 1873 and now one of the largest in the world by market capitalization. The exchange hosts prominent stocks like Nestlé, Novartis, UBS, and more while already offering various ETP cryptos such as ABTC and BITC.
- SIX Swiss Exchange ensures easy access to staking rewards through its platform for institutional and retail investors.
- The Zurich stock exchange has been a pioneer in incorporating crypto assets into traditional finance markets.
The Price of Crypto ETPs on Ethereum and Solana
Both ETHF and SOLF will track an index provided by MarketVector to replicate performance. ETHF will follow the MarketVector Figment Ethereum Reward Index (MVETHF), a total return index that captures rewards from validators at both consensus and execution levels.
- MVETHF measures the performance of ETH’s price along with rewards earned from staking activities.
- The index is dynamic, allowing adjustments in asset proportion, capitalization frequency, and staking fees during the product’s lifespan.
The Comments
“We have worked hard to support the launch of the first ETP with staking on Ethereum and Solana. Our goal is almost complete, marking a significant step towards introducing staking products in conventional ETP form for the emerging cryptocurrency market. I am proud that Figment continues to pioneer innovation in bringing institutional-grade staking products to market.”
“We remain dedicated to meeting institutional investors’ demand for exposure. Figment leads in providing access to staking, creating innovative yet straightforward products for financial markets. Our expertise gives us a clear advantage over other market participants.”
“The popularity of ETH and SOL has surged recently, but institutions still face challenges buying cryptocurrencies directly. ETPs will enhance accessibility to staking rewards for a broader audience, and we are proud that Figment is part of this development.”
Hot Take: Figment and Apex Group Launching Crypto ETPs on Zurich Stock Exchange
Figment Europe Ltd. and Apex Group’s collaboration will introduce new crypto ETPs on Ethereum and Solana at the SIX Swiss Exchange through Issuance.Swiss AG. This initiative aims to make staking rewards easily accessible to a wider range of investors while leveraging Figment’s expertise in institutional staking services and Issuance.Swiss’s financial product issuance program.
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