Category: CURRENCY EXCHANGEAmun AG, a Swiss fintech company tracking the performance of bitcoin cash (BCH) announced on Friday, July 5 that it has listed the first exchange-traded product (ETP). The company aims to facilitate access to crypto asset investments and has been consistently putting efforts in the same direction. Six was founded in 1850 and is Switzerland’s principal stock exchange. It offers traders securities including derivatives such as stock options as well as Swiss government bonds.The Amun Bitcoin Cash ETP has been introduced as a fully collateralized product denominated in US dollars and has an annual investor fee of 2.5% including custody, re-balancing and insurance fees. Seeded by Roger Ver with 25,000 BCH, this new crypto investment instrument is worth more than $10 million as of today.Over the past few years, the institutional money has flown into digital assets of all kinds which has helped in granting it similar status to mainstream investment categories such as stocks and other equities. This has helped in the maturity of the new market. The success of bitcoin cash has given investors another option to profit from. This new tool is considered as a major support in bringing cryptocurrency into mainstream as it will provide people a wider and greater exposure to cryptocurrency financially.Led by a team of serial entrepreneurs and experienced professionals from the asset management industry, Amun was established in 2018 and is headquartered in Zurich. The company employs custody and security solution of institutional grade using varied safety measures including multiple private keys, cold storage, whitelisting and audit trails to hold the underlying crypto assets.In the past nine months, Amun has listed five ETPs for trading on Six. These are covered as the top 10 cryptocurrencies with the Amun Bitwise Select 10 Large-Cap Crypto Index ETP (KEYS), three individual asset trackers on bitcoin (ABTC), ethereum (AETH) and ripple (AXRP) and the top five cryptocurrencies with the Amun Crypto Basket Index ETP (HODL).Hany Rashwan, Amun Co-Founder and CEO, commented: “We are delivering our strategy, which is to provide investors with the wider product suite in the crypto-assets space, easily available on one of the most reputable marketplaces, the Swiss Exchange. Thanks to this product, investors can now easily add Bitcoin Cash (BCH) to their portfolio.”What are your thoughts about the adoption of cryptocurrency as a mainstream currency through this step? Let us know in the comments section below.
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