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New Ethereum based stock trading product in market

The main stock exchange of Switzerland, SIX Swiss Exchange, launched on March 5 a stock trading product (ETP) based on Ethereum (ETH), according to the website of SIX Group.

This new financial product is backed by the Swiss company Amun AG, and will be listed under the AETH index. In addition, the management commission of Ethereum ETP will amount to 2.5 percent.

The SIX Group ETP was announced for the first time in November 2018. At that time, they commented that each cryptocurrency will acquire a certain market share within the next ETP. In this way Bitcoin represents about half of the assets of the ETP. The rest will be divided as 25.4 in XRP and 16.7 percent in Ethereum, while Bitcoin Cash and Litecoin will acquire 5.2 and 3 percent of the market, respectively.

An ETP is an investment vehicle that tracks the performance of a selection or basket of related assets, such as indexes, commodities or, in this case, cryptocurrency.

Amun AG states that, “It makes investing in cryptographic assets as easy as buying an action. Our Amun Index is an ETP listed on the Swiss Stock Exchange and gives access to the diversified basket weighted by market capitalization and automatic re balancing of the five major crypto assets.”

Amun had intended to introduce the ETP from September. On the other hand, it should be noted that Amun AG is the Swiss branch of Amun Technologies, a fintech company based in the United Kingdom.

According to the official website of Amun, SIX Swiss Exchange is the fourth largest stock exchange in Europe with a market capitalization of $ 1.6 billion. This represents a big step for the cryptocurrency industry. As it could be an excellent way to achieve your goal of earning the respect of institutional investors.

Published inCryptocurrencies

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