SEBA Bank lists competitor Polkadot ETP
Swiss bank SEBA is broadening out its crypto ETP offering, listing a Polkadot ETP. The SEBA Polkadot ETP (SDOT) will compete with 21Shares, Switzerland’s largest crypto ETP provider, whose Polkadot ETP (ADOT) has raked in $32M since its launch in February.
SDOT will be structured very similarly to ADOT. However it’s fee will be 1.25%, SIX Swiss Exchange’s website indicates.
Switzerland continues to be the centre of the world’s bitcoin ETF market. Due to accommodative government regulations and forward-looking exchanges, there is now a score of crypto ETPs in Switzerland with billions under management.
One expects the Swiss crypto ETF market will continue to grow, as crypto ETFs and regulated exchanges continue to claw market share from lower quality bitcoin exchanges like Bittrex, etc.