Binance Coin Gets a Boost with New ETP on Swiss Exchange

Binance Launches BNB ETP

In a game-changing move for cryptocurrency investments, Binance has officially launched an exchange-traded product (ETP) for its own Binance Coin (BNB) on the SIX Swiss Exchange. This launch on October 15, marks a significant milestone for BNB, providing investors with a more structured investment vehicle.

A Partnership with Amun

The ETP comes along with a collaboration with Amun, a local startup that has successfully introduced various ETPs to the market. This partnership not only enhances Binance’s position in the crypto space but also brings a level of regulatory surety for investors eyeing utility tokens.

What is an ETP?

• An ETP is a security that tracks an underlying asset, and in this case, it’s BNB.
• This product will feature physically-backed contracts, giving investors actual exposure to BNB rather than just a token on an exchange.
• Through this innovation, Binance is catering to a more risk-averse investment crowd.

Why This Matters for Investors

Changpeng Zhao, Binance’s CEO, expresses optimism about this new asset class. He notes that it will make utility tokens like BNB more accessible and reliable for investors frustrated with the often unpredictable nature of cryptocurrencies.

Market Response

Following the announcement, BNB saw a remarkable increase of about 4.5%, signaling that the market is responding positively to the news. It proves the appetite for structured crypto investment products among pro investors is out there—and growing.

SIX Swiss Exchange: A Pioneer in Crypto ETPs

The SIX Swiss Exchange is no stranger to cryptocurrency offerings. Since its launch of the world’s first multi-cryptocurrency ETP in late 2018, the exchange has been steadily expanding its crypto offerings. Earlier this month, it partnered with Bitcoin Suisse to introduce an ETP focused on Bitcoin (BTC) and Ether (ETH), further showcasing its commitment to integrating crypto into traditional financial markets.

The Future of BNB ETPs

The launch of a dedicated ETP for Binance Coin could signify the beginning of further innovations in crypto investment tools. Considering that BNB is currently ranked as the seventh-largest cryptocurrency by market cap, the expectation from traders for additional options is high. As the crypto landscape continues to evolve, Binance’s latest move is lighting the way for future developments in ETPs.