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A new product is available to be traded on the leading Swiss stock exchange

The Swiss financial technology company Amun AG has launched a new product traded on the leading Swiss stock exchange, SEX. Which will track the prices of ten basic digital assets.

As detailed in the press release issued by Bitwise Asset Management, the new ETP will be compared to the cryptocurrency index provided by Bitwise Asset Management, a subsidiary of Bitwise Asset Management. This will be the sixth ETP listed in the SIX exchange, the first four will still be provided by Amun AG.

Amun Bitwise Select 10 Large Cryptographic ETP

Contrary to the first four based on a single underlying asset, a new ETP called “Amun Bitwise Select 10 Large Cryptographic ETP” will track several selected underlying assets based on specific criteria.

The most important requirement to meet eligibility as an underlying asset is the maximum cryptocurrency calculated by market capitalization. ETP then excludes any cryptocurrency focused on privacy, thus excluding tokens such as Monero, Zcash and Dash.

The cryptocurrency must not be linked to any third-party platform. This requirement does not include cryptocurrencies such as the currency of security of the currency (BNB) and the stable currency Tether (USDT), which depend on their respective companies Binance and Tether. Despite this, Tether is a stable currency with an expected constant value, and because of its value stability, it will not be a good speculative investment asset.

In addition, the press release states that all assets in the index must be approved by the Swiss Stock Exchange as the basis for the PTE and must have the backing of the appropriate market makers and can be regulated by the principals and institutional custodians.

Only eight assets meet the requirements

According to this version, only eight assets meet these requirements and are included in the package of assets to be tracked by the ETP. This includes the bitcoin leader in cryptocurrency by market capitalization, which will also result in a majority of assets in the basket of assets reaching 67.8%.

Ethereum also distributes the weight to 11.5%. The Ripple XRP occupies the third place, representing 8.33% of the total weight. The cash of Bitcoin, Litecoin and EOS will represent 3.52%, 3.47% and 3.36% respectively. Stellar’s Lumens and Cardano’s ADA tokens contributed 1.1% and 0.9% of the distribution, respectively, to the weight of the basket. The basket will be reorganized and rebalanced monthly.

Bitwise Global Research Director Matt Hougan said in a statement:

“We are pleased to work with Amun to help non-US investors obtain a diversified cryptocurrency market.” He added: “The index has been carefully designed to capture large amounts of cryptocurrency assets, taking into account many unique constraints.” Presented by the current cryptocurrency ecosystem.

Hany Rashwan, CEO of Amun AG, was equally excited by the statement:

“We are pleased to work with Bitwise to provide the most diverse and diverse cryptocurrency ETP to Swiss investors.” Bitwise is the world leader in cryptocurrency indexing and we are pleased to present a product based on their experience.


Also published on Medium.

Published inCryptocurrencies

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