Major Cryptocurrencies Make it onto the Vienna Stock Exchange

In what will no doubt be seen as a watershed moment in cryptocurrency trading in years to come, Wiener Börse (AKA The Vienna Stock Exchange) have announced that they will list 21Shares Ag’s Bitcoin and Ethereum products, effective immediately. The move will affect the value of cryptocurrency exchange list offerings for these two major digital currencies. Despite recent calls for such a move growing both in number and ferocity, Wiener Borse becomes only the third officially regulated market to list a Bitcoin product for trading, joining those of Switzerland and Germany. Upon announcement of the listing, 21Shares CEO, Hany Rashwan said “We are happy to announce to the world that Bitcoin is now easily accessible everywhere in the entire DACH region”. Mention of this region, which is an acronym used to describe Germany (D), Austria (A), and Switzerland (CH), is significant as it highlights the fact that cryptocurrency is now cemented in the main German Speaking markets.

Why Now?

The rise of cryptocurrencies since their inception is well documented, so to many, this has seemed like an inevitable move, but why now? 21Shares’ website description of their Bitcoin ETP states “It’s time for Plan B. With global uncertainty, negative interest rates, a worldwide pandemic, and unstoppable central bank printing, we think it’s the right to invest in a time-tested and innovative alternative solution already used by millions”. It wouldn’t be far-fetched to also use this ETP description to explain why 21Shares have seen now as an optimum time to make this move. The aforementioned global pandemic we are experiencing has led to falling share prices and uncertainty across almost all industries, especially those which rely on customer footfall and presencial labor. 

What are the Benefits?

Thomas Rainer, head of business development at the Vienna Stock Exchange said, “Investors can profit from the stock exchange advantages in crypto trading: Monitored, regulated and transparent trading with real-time information and secure settlement via their regular brokers account” At the very least, the listing of cryptocurrencies on officially regulated markets will go some way towards taking away some of the natural stigmas that come with trading and tracking investments via other channels.

Reiner added, “With the listings, the Vienna Stock Exchange is expanding its selection of asset classes”, this statement mirrors the feelings of a growing number of investors, who feel now is a great time to shift investments towards purely virtual assets. By listing cryptocurrencies these DACH region markets are placing themselves at the forefront of what could be a seismic shift in trading and we can expect others to follow.

Singapore to Follow?

Following on from the DACH regions’ advocacy of cryptocurrency trading, The Singapore Exchange (SGX) also recently announced it will be listing price indexes for both Bitcoin and Ethereum. Although it will not allow for trading via SGX, this venture, in collaboration with CryptoCompare, a UK-based crypto data firm, will allow users and, more importantly, firms to track the fluctuating prices of crypto assets via a reliable source. Simon Karaban, head of index services for SGX said, “As the world moves swiftly towards digitization in the creation and accumulation of wealth, digital assets are increasingly being adopted by investors,”, the similarity between these statements and those of his Wiener Börse counterpart is telling, so one would imagine we will see full crypto trading available on SG


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