Switzerland’s primary stock exchange SIX has recently launched an exchange-traded product (ETP) with a combination of Bitcoin(BTC) and Ether(ETH). Crypto tracking tools present on equity exchange platforms help institutional and retail investors easily gain access to crypto assets.
Investors Can Now Add A Basket of Bitcoin and Ethereum to Their Portfolios
The newly launched product will help the Swiss investors add a basket of Bitcoin(BTC) and Ethereum(ETH) to their portfolios. For the same, the firm has partnered with cryptocurrency custodian Bitcoin Suisse AG to launch the ETP. Presently, the basket composition of the product is 90% of BTC and 10% of ETH.
What is an Exchange- Traded Product?
An Exchange Traded Product is a financial security that derives its price from other underlying assets. It can be traded on the traditional stock exchange like any other stock or commodity. Intra-day orders of the ETPs can be also be placed. Moreover, Exchange Traded Products can not only be used to place intra0day orders but also to develop other financial products on it.
From The Co- Founder’s Desk
Hany Rashwan, Co-founder, and CEO of Amun said that the product fulfills the need for a Swiss Franc (CHF)-denominated ETP. He said,
“It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.”
As a matter of fact, the ETP is fully collateralized. This implies that for every Bitcoin and Ether purchased for the product, there will be an equivalent crypto amount stored securely in Bitcoin Suisse Vault.
Now, Amun AG has a total of seven cryptocurrency ETC products listed on the six Exchange. The list includes XRP-based ETP, a BTC-based ETP, a bitcoin cash (BCH)-based ETP, an ETH-based ETP, the Amun Crypto Basket Index ETP and Amun Bitwise Select 10 Large Cap Crypto Index ETP.
About Amun AG
Amun was established in 2018 and has its headquarters in Zurich. It is led by an experienced professional in the management industry and employed institutional level security and custody arrangements with safety measures which include a multiplicity of private key system and cold storage of underlying assets.
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Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.