September 23, 2020

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

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 Thursday fintech company Amun AG and custodian Bitcoin SuisseAGs have partnered to launch ETP, which will allow Swiss investors to add a basket of BTC and ETH to their portfolios. Currently, the composition of the product basket is 90% BTC and 10% ETH. ETP is followed by the ABBA ticker.

This ETP is fully secured. This means that each BTC and ETH purchased for ETP will be provided with the appropriate number of cryptocurrencies stored in 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 ETP, BTC-based ETP, BCH-based ETP, ETH-based ETP, ETP with the Amun Crypto Basket Index and ETP with the Amun Bitwise Select 10 Large Cap index.