Switzerland Green Lights World’s First Crypto ETP to be Listed

World’s first crypto Exchange Traded Product (ETP) is to start trading next week on Europe’s fourth-biggest exchange, SIX Swiss Exchange, with a market capitalization of $1.6 trillion.

A crypto startup, Amun AG, has been given the green-light to list an index fund on a traditional stock exchange.

Hany Rashwan, co-founder and chief executive of Amun, stating:

The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies.

It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments.

Based on the reports, the Amun Crypto ETP will have half of its assets invested in Bitcoin (BTC), while the other half will be shared between Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

The approval from the SIX Swiss Exchange is a landmark event as no exchange-traded product exist anywhere, not even in the U.S., where the Securities and Exchange Commission has kept everyone guessing on when it would approve the first Bitcoin Exchange Traded Fund (ETF).

What is ETP:
ETPs are derivative investments that are traded on securities exchanges, valued on the basis of a commodity or in the case of the Amun Crypto ETP, the benchmark would be cryptos.   Source