ETF Securities has described the Swiss National Bank’s decision to scrap the franc's peg to the euro as “drastic and unprecedented” after it was forced to delist an exchange-traded currency after its value was wiped out.

According to the fund factsheet as of December 31, 2014, the ETFS 5x Short CHF Long EUR, which boasted assets of some €150,000, provided a 'leveraged short' exposure to the Swiss franc relative to the euro. This means that any rise in value of the franc relative to the euro would result in a decrease in the value of the ETC by five times the same amount.