Crypto volumes hit CHF 87.1 million at Switzerland exchange

Switzerland’s principal exchange has experienced a rebound in trading activities for September 2022, with monthly volumes increasing by more than 20 percent MoM.

The Swiss Stock Exchange saw improved trading results with volumes aggregating to CHF 955.7 billion, up from a combined nominal value of CHF 78.3 billion in August. The statistical report shows that trading turnover at the exchange’s venues, including on SIX Structured Products Exchange Ltd, was down 2 percent from September 2021.

In terms of the total number of transactions, the volumes were numbered at 4.86 million, up 21 percent month-on-month compared to 4.12 million transactions reported for August 2022.

The highest turnover on a single trading day was recorded on 16 September, which saw securities worth a total volume of CHF 10.0 billion changing hands. The highest number of trades was recorded on 28 September, with 319,246.

SIX remains a popular destination for crypto listings

The Swiss key bourse noted in the press release that its year-to-date volumes, through end of September 2022, were slightly down by 2.1 percent versus the same period in the previous year, coming in at 47 million trades. This effect was less apparent in trading turnover which was down 0.7 percent over the same period and totaled CHF 955 billion as of last month.

The Zurich-based market operator also said that cryptocurrency products hit a trading turnover of CHF 87.1 million, virtually unchanged from CHF 89.9 million in August. In total, 190 products were traded and 6,539 transactions concluded. The highest turnover was recorded by AETH, an ETP on Ethereum, with CHF 13.2 million; the most transactions were recorded also by AETH, with 1,205 trades.

The infrastructure of SIX once again proved popular and reliable, providing the solid bedrock for new crypto listings. Part of this expansion, Europe’s largest digital asset investment firm, CoinShares rolled out a physically-backed exchange-traded product (ETP) for the polkadot cryptocurrency. Fidelity also launched a physical bitcoin exchange traded product designed for sophisticated investors in Europe.

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