SIX Swiss Exchange Launches Cryptocurrency ETP

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Total News – Atlanta, GA 11/19/2018. Zurich-based SIX Swiss Exchange will list the world's first exchange traded product (ETP) tracking multiple cryptocurrencies. The ETP will start trading next week on the exchange

Amun Crypto ETP (HODL), as it will be known, is an ETP that tracks the financial performance of the top and most liquid cryptocurrencies. The ETP will track the following cryptocurrencies: Bitcoin, XRP, Ethereum, Bitcoin Cash ABC, Litecoin.

Each cryptocurrency component will have a respective weight, with Bitcoin amounting to just under half of the ETP's asset. The remainder is divided between XRP (25.4 %), ethereum (16.7 %), bitcoin cash (5.2 %) and litecoin (3 %).

Speaking with Financial Times, Amun CEO and co-founder Hany Rashwan stated:

"The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments."

Rashwan added:

"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." Going further, Rashwan revealed the company plans to launch "an index basket ETP first," which would make it simple for investors "to 'buy the market' rather than trade specific crypto assets, though we plan on launching specific trackers for each asset in the future too."

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