ZURICH, Aug. 4, 2022 /PRNewswire/ -- Pando Asset, as the fifth new crypto ETP issuer to join SIX Swiss Exchange this year, has attracted much market attentions since its listing on 27, July. Being the first crypto ETP listed on SIX Swiss Exchange of Pando Asset, as of 3 August, Pando Asset crypto 6 ETP closed at $21.66, up to 9.78% growth compared to the issue price of $19.73, traded with the Bloomberg symbol "PNDS".
Pando Asset is domiciled in Switzerland and is built by a group of industry professionals from finance, blockchain technology, and crypto asset space, such as Huobi Group, 21 Shares AG, and Deutsche Boerse AG. Pando Asset has partnered with the largest crypto asset custodian Coinbase and is 100% fully collateralized. Emphasized by Junfei Ren, Partner at Pando Asset, said: "Pando Asset's mission is to allow investors to safely, easily, and efficiently participate in crypto assets without worrying about the storage of private key risks and systematic security issues. This builds trust and is the perfect gateway for both new investors and traditional institutional investors to become key players in this new age of crypto."
The Pando Asset Crypto 6 ETP mainly tracks the Vinter Pando crypto basket 6 index, which offers investors the opportunity to participate in the performance of a basket of digital assets consisting of largest smart contracts assets by market capitalization. Investors can purchase or redeem the ETP with same real-time price as Coinmarketcap through their brokerage accounts during regular trading hours on the SIX Swiss Exchange.
Currently, the index contains the six largest crypto assets by market capitalization. The index is re-balanced quarterly and weighted to allow investors to diversify, to emphasize, and to prevent the two largest assets from overpowering the basket.The digital assets are held in cold storage with the institutional graded and regulated custodian. Along with other safety measures such as multiple signature authorization, whitelisting addresses, and audit trail, the Pando6 ETP is designed to provide investors with a fully collateralized product to invest.
With the joining of Pando Asset, Christian Reuss, Head of SIX Swiss Exchange, highlighted: "I'm delighted to see that our growing ETF and ETP market has attracted the fifth new crypto issuer this year. A warm welcome to Pando Asset newly offering their crypto basket ETP on our exchange."
SOURCE Pando Asset AG