Swiss Exchange SIX launches trading on an exchange product based on BTC and ETH

Swiss Stock Exchange SIX has announced BTC and ETH exchange-traded product (ETP) trading.

On Thursdayfintech firm Amun AG and custodian Bitcoin SuisseAG have partnered to launch an ETP that will allow Swiss investors to add a basket of BTC and ETH to their portfolios. Currently, the product basket composition is 90% BTC and 10% ETH. The ETP is accompanied by the ticker ABBA.

This ETP is fully collateralized.This means that every BTC and ETH purchased for the ETP will be backed by the corresponding amount of cryptocurrencies stored in the Bitcoin Suisse Vault, – said co-founder of Amun AG.

Hani Rashwan, Co-Founder and CEOAmun noted that the product was developed for the Swiss by the Swiss, in order to satisfy the need for an ETP nominated in Swiss francs (CHF).

Amun AG now has a total of sevencrypto ETP products listed on the SIX exchange. These include XRP-based ETPs, BTC-based ETPs, BCH-based ETPs, ETH-based ETPs, Amun Crypto Basket Index ETPs, and Amun Bitwise Select 10 Large Cap Index ETPs.