The fourth largest in Europe exchange SIX Swiss Exchange will launch the following week financial product on the basis of several the most liquid cryptocurrency, according to Trustnodes.
A new financial product (Exchange Traded Product ETP) will consist of bitcoin (48,13%), XRP (29%), Ethereum (Of 16.39%), Bitcoin Cash ABC (3,74%) and Litecoin (2,74%).
ETP will be traded under the Ticker HODL5. The tool is developed by cryptocurrency startup Amun AG.
“Amun ETP will provide an opportunity to institutional investors, which are limited to work only with securities, and do not want to create a repository for digital assets to access the cryptocurrencies. It will also be available to retail investors who do not have access to bitcoin exchanges due to regulatory restrictions”, — said CEO and co-founder of a startup, honey Rashwan.
The first time, ETP will be half of bitcoin and 30% of the XRP, which recently pushed Ethereum in terms of capitalization. Bitcoin Cash (the implementation of the ABC) and Litecoin will be added later.
When an investor acquires shares of ETP, managers buy the corresponding amount of cryptocurrency by placing it in a safe vault. The Fund will automatically balansirovka depending on the market situation. For the Fund contemplated by the Commission 2.5% per year.
Recall that because of the regulatory uncertainty has delayed the plans to launch a bitcoin ETF investment giant BlackRock.