One of the largest European trading platforms the Swiss stock exchange SIX will carry out a listing of a traded exchange product (ETP) from the blockchain startup Amun AG and the cryptocurrency broker Bitcoin Suisse AG.
The product combines two cryptocurrencies – it will include Bitcoin and Ethereum, presented in a ratio of 9 to 1, respectively. On the exchange, ETP will be traded under the ticker symbol ABBA.
A joint press release from the companies said that the tool was developed in response to the growing demand for cryptocurrency ETPs denominated in Swiss francs. It will allow investors from Switzerland to add Bitcoin and Ethereum to their portfolios.
Companies assure that their product will be “completely physically secure.” This means that for each unit of cryptocurrency included in its composition, an appropriate amount of Bitcoin and Ethereum will be acquired, which will be stored in Bitcoin Suisse Vault.
It is worth noting that this is not the first ETP launched by Amun on the SIX exchange – together with the new product, their number reached seven. Amun has already launched ETP based on Ethereum, Bitcoin, XRP and Bitcoin Cash, as well as two products based on a basket of crypto assets.
In November last year, Amun-Crypto-Basket ETP became the leader in trading volume less than a week after launch on SIX. It outperformed silver, gold and oil assets. The Amun product to this day does not leave the rating of the largest in terms of turnover on SIX exchange products.