ETPs

Yes. Crypto assets are permitted as an underlying instrument for products traded at SIX Swiss Exchange.

Crypto assets must have a market capitalization of at least USD 500mn, an average daily turnover of at least USD 50mn over the past 30 calendar days and a trade record of at least 180 calendar days.

Further requirements are defined in DCA and ARETP.

A list of all already approved crypto assets can be found here.

To ensure efficient processing, the listing application must be submitted pursuant to Art. 43 Listing Rules by a recognised representative. The Directive Recognised Representatives (DRR) regulates both the various types of recognition and the recognition procedure.

ETPs are collateralized, non-interest-paying bearer debt securities (debentures) which are issued as securities, sold and redeemed in the same structure and denominations on a continuous basis and replicate the price trend of an underlying instrument, either unchanged or leveraged (tracker certificate).

Unlike ETFs, ETPs are not collective investment schemes, as defined by the Federal Act on Collective Investment Schemes Act (CISA). As such, ETPs are not subject to the approval of the Federal Financial Market Supervisory Authority (FINMA).

To maintain a listing on the Swiss Stock Exchange, issuers must comply with the regular reporting obligations set out in articles 49-56 of the Listing Rules and the Additional Rules for the Listing of Exchange Traded Products (ARETP)