Amun expands crypto offering with Tezos ETP

Nov 19th, 2019 | By | Category: Alternatives / Multi-Asset

Amun, a Switzerland-based issuer of exchange-traded products linked to crypto assets, has announced the launch of the Amun Tezos ETP (AXTZ SW) on SIX Swiss Exchange.

Hany Rashwan, CEO of Amun

Hany Rashwan, CEO of Amun.

The ETP provides exposure to the performance of Tezos, a technology for deploying a blockchain capable of modifying its own set of rules with minimal disruption to the network through an on-chain governance model.

Unlike blockchains such as Bitcoin or Ethereum, a Tezos blockchain does not rely on mining (Proof of Work), but instead utilizes a Proof of Stake consensus model.

The Proof of Stake model relies on investors staking their own tokens to maintain the blockchain for which they are rewarded with passive income. In the case of Tezos, this process is known as ‘Baking’.

The Amun Tezos ETP is exposed to the price performance of the Tezos token but also generates a yield due to Baking conducted by Amun on behalf of investors.

Hany Rashwan, CEO of Amun, commented, “For the first time, institutions, as well as retail investors, can invest in the public blockchain, the Tezos network with a Proof of Stake concept and consensus mechanism via our ETP and participate in the associated rewards for contributing to the security and stability of the Tezos blockchain – without the need to ever have to set up a crypto wallet or taking care of a private key.”

The ETP comes with an expense ratio of 2.50%.

The launch represents the ninth crypto asset ETP to be listed by Amun on SIX Swiss Exchange. Five of the ETPs provide exposure to single cryptocurrencies – bitcoin, ethereum, ripple, bitcoin cash, and BNB – while the remaining three track baskets of two, five, and ten leading crypto assets.

Amun has also introduced seven of its ETPs in Germany via cross-listings on Boerse Stuttgart in euros.

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