SIX, Switzerland's largest stock exchange, has just announced the launch of an ETP (exchange-traded product) linked to Tezos.
As announced today, this new product, which will be listed under the ticker AXTZ, is issued by fintech Amun AG in collaboration with the Tezos Foundation.
The main innovation of this new investment instrument is that it is the first to allow investors to receive passive income from transactions validated in Tezos' blockchain.
The company will charge an annual management fee of 2.5%.
Hany Rashwan, Amun CEO and co-founder, has said:
"Investors will be able to buy a stock for as low as $20 and we bake/stake on their behalf and return it to them as a dividend without them required to do any staking on their own."
Tezos tokens linked to these ETPs will be custodied by Coinbase Custody.
This new product will reportedly be available to both institutional and individual investors, who will be able to receive passive income without the need to store the cryptocurrency in a wallet.
This is not the only ETP launched by Amun AG. The firm has already rolled out 9 ETPs on SIX.
Last month iHodl reported SIX had added a bitcoin and ethereum ETP.
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