The Swiss stock exchange SIX Swiss Exchange will open trading cryptocurrency exchange-traded product ETP that includes multiple assets. Information last Saturday confirmed the CEO of Amun Crypto ETP, partner’s SIX to launch the product in response to a request by the Financial Times.
Offer SIX and Amun will be included in the index Fund HODL and will include BTC, ETH, XRP, LTC and BCH. CEO and co-founder of Amun Rashwan Hany (Hany Rashwan) explained that the product was developed in full compliance with the policy standard ETP that is equally beneficial to private and institutional investors:
“We will provide access to the market digital assets and cryptocurrencies institutional investors who SenterNovem exclusively in securities of, or do not wish to use the custodian services; in addition, this ETP will be in demand among private investors who do not have the ability to trade bitcoin because of legal restrictions.”
Management of the basket Amun will be carried out by the German subsidiary of the investment company VanEck, according to the Swiss newspaper Finews.com. Answering the question about why the startup chose to launch ETP Switzerland, Rashwan said that in this country, “the most suitable legal framework”, including for future projects. The entrepreneur believes that investors currently prefer to work with trash, “trading in a separate market,” however, later Amun plans to bring on-exchange derivatives on a separate digital asset.
Earlier VanEck was trying to start a cryptocurrency investment Fund (ETF) in conjunction with SolidX, but have not received the permission of the Commission on securities and exchange Commission (SEC).