Pando Asset launches first crypto ETP on SIX
04 August 2022 12:28
Pando Asset is the fifth new crypto ETP issuer on the SIX Swiss Exchange this year. On 27 July, its crypto 6 ETP was listed on the Swiss exchange under the Bloomberg symbol PNDS. As of 3 August, the ETP closed at 21.66 USD, up 9.78 per cent compared to the issue price of 19.73 USD, according to a statement from the company from the Greater Zurich Area.
Headquartered in Zug, Pando Asset was founded by a group of industry experts including Huobi Group, 21 Shares AG and Deutsche Börse AG. The company has partnered with the largest crypto asset custodian Coinbase and is 100 per cent fully collateralized, writes the statement. The ETP mainly tracks the digital basket of assets Vinter Pando Crypto Basket 6 and is re-balanced quarterly.
"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,” commented Pando Asset partner Junfei Ren. He added that this makes it “the perfect gateway for both new investors and traditional institutional investors”.