Switzerland approves trading of Amun Crypto ETP

Monday 19 November 2018 00:20 CET | News

As per Financial Times’ report, Switzerland’s main stock exchange has opened its doors for the first ETP tracking multiple cryptocurrencies.

SIX Swiss Exchange will start the trading of Amun Crypto ETP. The ETP is designed to track an index of the five cryptocurrencies, including includes Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH) and Litecoin (LTC).

The division is set to 24.4% XRP, 16.7% Ethereum, 5.2% Bitcoin Cash, 3% Litecoin, the rest being Bitcoin. Moreover, the annual management fee for the ETP is 2.4%. However, it is unclear on which fork of BCH they will be opting for. The fork has resulted in the network splitting into two, known as BCHSV, which is an upgrade from nChain’s Craig Wright and Coingeek, and BCHABC, which is an upgrade from Bitcoin ABC and Bitmain.

The Amun ETP will give institutional investors that are restricted to investing in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. Moreover, it will also provide access for retail investors that do not have access to crypto exchanges, due to local regulatory impediments.

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Keywords: Switzerland, cryptocurrency, Stock Exchange, BCH fork, investors, securities
Countries: World