Swiss SIX Exchange Launches Bitcoin and Ether Exchange-Traded ProductBy Oct 03, 2019 2 Min Read
Fintech firm, Amun and crypto custodian Bitcoin Suisse and announced today of the launch of its Swiss Franc denominated Amun Bitcoin Suisse BTC/ETH exchange-traded product (ETP). This ETP, a combination of Bitcoin and Ether, has gone live on the Swiss stock exchange, SIX.
The launch of the ETP will allow Swiss investors to add BTC and ETH to their portfolios. The composition of the ETP is 90% BTC and 10% ETH. Trading on SIX, the ETP is under the ABBA ticker symbol.
As described by Amun AG, “this physically-backed ETP is fully collateralized, which means that for every Bitcoin and Ether bought for the ETP, there will be an equal corresponding crypto amount stored securely in the Bitcoin Suisse Vault.”
Hany Rashwan, the co-founder and CEO of Amun, stated that the product had been designed specifically for the Swiss by the Swiss to address the need for a Swiss Franc (CHF)-denominated ETP. He said,
“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.”
Post-launch, Amun AG has added the seventh cryptocurrency ETP listed on the Swiss SIX exchange.
SDX sets up a global consortium for its initial digital offering in 2020
The Swiss Digital Exchange (SDX) has been reportedly setting up a global consortium of financial institutions for its plan to launch its initial digital offering (IDO) in 2020.
The IDO was explained to be similar to a traditional initial public offering, although the shares will be issued in the form of security tokens on SDX. The launch of the SDX was postponed to Q4 of 2020.
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Sarah Tran 📧