Switzerland has given the green light to list and start the world’s first crypto Exchange Traded Product (ETP). Furthermore, the crypto Exchange Traded Product (ETP) will start its trading on the SIX Swiss Exchange. Most noteworthy, SIX Swiss exchange is Europe’s fourth largest exchange. Moreover, SIX Swiss Exchange also cherishes a market capitalization of $1.6 trillion.
More about the world’s first crypto Exchange Traded Product (ETP)
A Switzerland-based cryptocurrency and blockchain startup, Amun AG will list the crypto Exchange Traded Product (ETP). This would be one of those rare times in the year when a newer modern technology would is sharing space with a traditional method. Amun AG has been given the permission to list their “index fund” on the stock exchange.
Hany Rashwan, the Co-founder, and Chief Executive Officer of Amun AG stated this. “The Amun ETP will give institutional investors exposure to cryptocurrencies. These institutional investors are restricted to investing only in securities or do not want to set up custody for digital assets. It will also provide access for retail investors. They may currently have no access to crypto exchanges due to local regulatory impediments.”
The crypto firm is tracking major cryptocurrencies and digital asset token by their market cap. Furthermore, according to the reports the assets allocats to the cryptocurrency. More than half of their assets are on Bitcoin [BTC], while almost 30 percent is on the growing Ripple [XRP]. Rashwan stated more on this. He said: “After exploring this across 23 different exchanges and territories around the world, we settled on Switzerland“.
The fund automatically allocates according to their respective market share. Rashwan said: “We believe Switzerland to be the best jurisdiction for our base and intend. After launching our initial products on the SIX Swiss Exchange, to both launch additional products as well as dual-list across additional geographies and stock exchanges.”
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