Exchange Traded Products (ETPs) are types of securities that represent underlying assets, an index or other financial instruments. ETPs trade on traditional stock exchanges in the same way as shares. However, the prices of ETPs are derived from the underlying investments they represent. In Switzerland there are already issuers of ETPS tracking cryptoassets. The issuer of the ETPs ensures custody and pricing.
ETPS listed on the SIX are secured, non-interest-bearing bearer bonds. They replicate the performance of an underlying asset on an unchanged or indebted basis. These financial products are not investment funds and are therefore not subject to the Swiss Federal Act on Collective Investment Schemes (CISA). In most cases, the collateral (securities or precious metals) is deposited with a third party.
