Switzerland’s Bitcoin Space Keeps Growing

  • Switzerland’s leading position in Bitcoin keeps consolidating.
  • The SIX Swiss Exchange is one of the world’s leading platforms of crypto-based assets.
  • A carbon-neutral exchange-traded product launched on SIX this week.

The SIX Swiss Exchange welcomed its 11th crypto exchange-traded product (ETP) issuer this week - Helveteq. Helveteq is a Swiss-based issuer of ESG-transparent investment products. It launched Switzerland’s first carbon-neutral ETPs on 11 April. One is focused on Bitcoin and the other on Ethereum. The Bitcoin ETP, BTCO2, will track the movement of Bitcoin’s price while offsetting any carbon footprint generated from its holdings and activities. This will be done in collaboration with the University of Zurich.

Switzerland is one of the world’s most accommodating jurisdictions for Bitcoin. A long tradition of freedom, sound money and privacy, coupled with a stable economic and political system and a transparent legal framework, have made it one of the global Bitcoin hubs. The SIX Swiss Exchange is Europe’s third largest stock exchange with a free float market capitalization of around CHF 1.4tn. It has become one of the world’s leading regulated trading platforms for cryptocurrency-based assets. It was the first stock exchange in the world to list a multi-cryptocurrency ETP in 2018 and it launched a digital exchange in 2021. It now offers 240 cryptocurrency-related products and 155 ETPs. This segment has grown 673% year-over-year and accounts for CHF8.6bn in trading turnover. Nearly 72% of the group’s crypto trading turnover came from ETPs last year. In light of the recent ETP announcement, the head of the exchange, Christian Reuss, states that he was “delighted to see how many start-ups choose the Swiss jurisdiction because of its legal certainty, world-class infrastructure and our stable trading system.”

The Swiss Bitcoin space keeps growing because of Switzerland’s clear legal framework and stable economic and political system. It is attracting new capital and allowing the sector to thrive. The Crypto Valley, as well as the rest of Switzerland, is likely to keep receiving new capital in the Bitcoin space as jurisdictions around the world threaten a regulatory crackdown.

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