According to Financial Times, the world’s first crypto ETF is opening next week on the Swiss Exchange SIX.
It’s said that a cryptocurrency company Amin AG received permission to list an index fund on the exchange and to trade under the ticker of “HODL”.
The co-founder of Amun, Hany Rashwan said:
“The Amun ETP [re-branded in ETF] 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.”
The Amin’s fund will monitor the largest cryptocurrencies by marketcap and allocate assets. At the time of writing, the Amin’s crypto ETF has 48.13% in bitcoin (BTC), 30.13$ in ripple (XRP), and almost 16% in ethereum (ETH). Amin AG also expects to list bitcoin cash (BCH)/(ABC) and litecoin (LTC) in the near future.
Earlier, BlockRock announced that it wouldn’t offer its clients bitcoin-ETF until it would see that the crypto industry is mature enough and has become legitimate.
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