ZURICH – Leading Swiss stock exchange, SIX Swiss Exchange has announced the world’s first multi-crypto-based exchange-traded product (ETP), which will be available next week.
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Listed under the index HODL, the multi-crypto Amun Crypto ETP will track five cryptocurrencies including bitcoin (BTC), XRP, ether (ETH), Bitcoin Cash (BCH), and litecoin (LTC).
According to the Financial Times, half of the ETP’s assets will be in BTC. XRP, now the second largest blockchain, will account for 25.4 percent. ETH will make up 16.7 percent, while BCH and LTC will secure 5.2 and 3 percent of the market, respectively.
Hany Rashwan, CEO and co-founder of Amun said the ETP would have the same criteria necessary by other “traditional exchange-traded products widely used by investors.”
“Amun’s EUN will offer institutional investors limited to investing only in securities or will not want to establish custody for the exposure of digital assets to cryptocurrencies, it will also provide access to retail investors who currently do not have access to trade crypts due to local regulatory impediments,” said Rashwan.