Amun launches bitcoin/ethereum crypto asset ETP on SIX Swiss

Oct 7th, 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 Bitcoin Suisse BTC/ETH ETP (ABBA SW) on SIX Swiss Exchange.

Amun launches bitcoin/ethereum crypto asset ETP on SIX Swiss

Collectively, bitcoin and ethereum currently account for over 75% of the entire crypto asset market.

The ETP provides exposure to a basket of bitcoin and ethereum and is the first crypto ETP in Switzerland to be listed in Swiss francs.

The basket weights are determined by market value with the ETP currently composed of approximately 90% bitcoin and 10% ethereum.

Bitcoin and ethereum are currently the two largest crypto currencies, accounting for more than 75% of the overall crypto market.

The ETP has been brought to market in partnership with Bitcoin Suisse, another Swiss-based company operating in the crypto financial services space.

Bitcoin Suisse provides custody of the crypto currencies. The firm aims to provide the highest standards of cryptographic security and already manages in excess of $1billion storage volume.

The ETP is physically backed and fully collateralized with the underlying crypto currency stored securely in the Bitcoin Suisse Vault.

It comes with an expense ratio of 2.5%.

Hany Rashwan, Co-Founder and CEO of Amun, commented, “The Amun Bitcoin Suisse BTC/ETH ETP was designed for the Swiss by the Swiss to answer a need for a CHF-denominated ETP. It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.

“This product further exemplifies Switzerland’s leading position in the crypto space, where Amun is able to work closely with the exchange and authorities to create regulated, compelling, and institutional-grade financial products.”

Lothar Cerjak, Head of Institutional Services & Products, Bitcoin Suisse, added, “We are excited to launch our first ETP, part of our continually expanding range of services. Along with Amun, we share a strong desire to pioneer new possibilities in crypto finance, building with the highest standards of technology and service which Bitcoin Suisse offers since 2013.”

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

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