Switzerland Approves The First Crypto ETP – Starts Trading Next Week On SIX Swiss Exchange 

The world’s first crypto ETP will start trading the next week on SIX Swiss Exchange. This is Europe’s fourth-biggest exchange and has a market cap of $1.6 trillion.

Amun AG, to list an index fund on a traditional stock exchange

Amun AG crypto startup just received the green light to list an index fund on a traditional stock exchange with Hany Rashwan, co-founder and chief executive of Amun and said the following:

“The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments.”

This fund tracks the most important cryptos by market share and allocates assets. At the moment they have about 50% on Bitcoin and 30% on XRP.

This is the first stock exchange-listed fund that includes BCH, LTC or XRP.

Rashwan said back in September that after they explored this across 23 exchanges and territories all over the world, they decided to settle in Switzerland. They believe this country is the best jurisdiction for their base and they also plan to launch more products in more locations and stock exchanges.

Launching an index basket ETP

He highlighted that they plan to launch an index basket ETP which allows investors to buy the market instead of trading specific coins.

The fund will automatically allocate crypto distribution based on their performance in terms of market capitalization. When you’re buying the stock, market makers buy the equivalent amount of coins and send it to a custodian for safe keeping.

The authorized participants will be Jane Street, and Flow Traders and the index will be traded under the ticker of HODL.

Europeans will get the opportunity to buy crypto through their pensions portfolio

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