21Shares Avalanche ETP AVAX Begins Trading on Swiss Stock Exchange
ETN Tracks Performance of AVAX Tokens
100 Physically Backed AVAX Tokens
Zurich, Switzerland, May 14, 2023 - 21Shares AG, the world's largest issuer of cryptocurrency exchange-traded products (ETPs), has listed its 21Shares Avalanche ETP (AVAX) on the Swiss Stock Exchange (SWX), under the ticker symbol AVAX. The ETP provides investors with a convenient and fully regulated way to gain exposure to the Avalanche (AVAX) token, the native cryptocurrency of the Avalanche blockchain.
The 21Shares Avalanche ETP is backed by 100% physically held AVAX tokens, meaning that each ETP unit represents ownership of the underlying cryptocurrency. The ETP replicates the performance of the MVIS CryptoCompare Avalanche Index, which tracks the price of AVAX in USD. The ETP is intended for investors who are familiar with the cryptocurrency market and are looking for a regulated way to invest in AVAX, while benefiting from the transparency and liquidity of a traditional stock exchange.
Hany Rashwan, CEO of 21Shares, said: "The listing of our 21Shares Avalanche ETP on the Swiss Stock Exchange is a significant milestone for us and for the cryptocurrency industry as a whole. It demonstrates the growing institutional acceptance of cryptocurrencies and provides investors with a secure and convenient way to participate in the digital asset ecosystem."
The 21Shares Avalanche ETP is the second ETP from 21Shares to be listed on the SWX, following the successful launch of the 21Shares Bitcoin ETP (BTC) in 2020.
Disclaimer: The information provided in this article is for general informational purposes only and should not be construed as investment advice. Cryptocurrency investments are subject to market risk and volatility, and investors should conduct their own due diligence before making any investment decisions.
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