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New crypto ETP starts trading on Swiss stock exchange

Benson Toti

Switzerland’s main stock exchange SIX has listed an exchange-traded product (ETP) based on the two largest cryptocurrencies, Bitcoin (BTC) and Ether (ETH). The product is the result of a partnership between benchmark index provider MV Index Solutions, crypto ETP provider Amun and crypto custodian Bitcoin Suisse.

The Amun Bitcoin Suisse BTC/ETH ETP, which makes its debut on the SIX exchange today, is weighted 90% BTC and 10% ETH. According to Amun, the product, which is trading on SIX under the ticker symbol ABBA, is fully collateralised with crypto asses from Bitcoin Suisse.

ABBA is the second digital asset ATP to come from the partnership between MV and Amun. It is also Amun’s seventh crypto ETP offering that has been listed on the SIX exchange. Amun’s other listed crypto products include ETPs based on Bitcoin, Ether, XRP and Bitcoin Cash (BCH), as well as a couple of basket ETPs. The Zug, Switzerland-headquartered firm describes its new offering as having been “designed for the Swiss by the Swiss”.

“It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX exchange and backed by a Swiss-based custodian,” Amun’s chief executive officer Hany Rashwan said in a statement published earlier today. “This product further exemplifies Switzerland’s leading position in the crypto space, where Amun is able to work closely with its partners, the exchange and authorities to create regulated, compelling, and institutional-grade financial products.”

The SIX stock exchange has been among the Swiss companies showing significant interest in the crypto space. In addition to listing Amun’s ETPs, has also been developing a digital asset exchange. The company recently launched a pilot version of the platform and plans to have a full launch in the fourth quarter of next year.

Featured image: LuckyStep /Shutterstock.com

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