SIX, Switzerland's largest stock market, has just announced the launch of a bitcoin and ethereum ETP.
The launch of this new instrument has been possible thanks to an association between fintech startup Amun AG and crypto custody service Bitcoin Suisse AG.
Swiss investors will now be able to add a basket of bitcoin and ethereum to their investment portfolios. This basket is weighted 90% bitcoin and 10% ethereum.
This new ETP will trade under ticker ABBA and the platform ensures that all ETPs are 100% backed, which means that every ETP traded on the platform will be backed by ethereum and bitcoin stored in Bitcoin Suisse Vault.
Hany Rashwan, co-founder and CEO of Amun, said that product has been designed by and for Swiss people in order to answer the need for an ETP denominated in Swiss francs (CHF).
After the launch of this new product, Amun AG now has 7 crypto ETPs listed on SIX.
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