Vienna Stock Exchange (Wiener Börse) would be listing three of its crypto exchange-traded products from ETC Group.
It has been reported that the products are “100% physically backed and central counterparty cleared.” These include the firm’s carbon-neutral Bitcoin product, a Litecoin-based product, and its Ether ETP.
However, the ETC Group has already made similar listings on stock exchanges in London, Paris, Amsterdam, Zurich, and Frankfurt. The ETPs are aimed at allowing investors exposure to crypto with the regulatory protections afforded to traditional stocks.
The report said that its crypto product was like trading Bitcoin “through an ETP structure,” the firm said its offerings are not the same as an exchange-traded fund, as they are single asset instruments. The Market Maker on the Vienna Stock Exchange will be Lang & Schwarz, with the crypto products distributed by ETP provider HANetf. Despite the name, the ETC Group has no connection to the cryptocurrency Ethereum Classic.
Likewise, while firms including the ETC Group have been rolling crypto ETPs across Europe this year, exchange-traded funds in the United States are still in a type of regulatory purgatory as the Securities and Exchange Commission (SEC) has yet to approve any applications.
Thus, VanEck, Valkyrie Digital Assets, Fidelity Investments, and others have submitted paperwork with the regulatory body to apply for crypto ETFs, but the SEC has always delayed its decision or instead opened the application to the public comments.