Name Price24H (%)
Bitcoin (BTC)
$8,095.65
-0.21%
Ethereum (ETH)
$174.57
0.30%
XRP (XRP)
$0.249411
-0.35%
Litecoin (LTC)
$55.12
0.74%
Exchange-traded product Listed on Switzerland's Stock E...
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Exchange-traded product Listed on Switzerland's Stock Exchange, SIX

An exchange-traded product (ETP) with a combination of bitcoin (BTC) and ether (ETH) is going live on Switzerland’s primary stock exchange SIX.

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Fintech firm Amun AG and cryptocurrency custodian Bitcoin Suisse AG have partnered to launch the ETP, which will allow Swiss investors to add a basket of BTC and ETH to their portfolios, according to a press release. Currently, the basket composition of the product is 90% of BTC and 10% of ETH.

The ETP goes with the ticker symbol ABBA for trading on SIX. “This physically-backed ETP is fully collateralized, which means that for every bitcoin and ether bought for the ETP, there will be an equal corresponding crypto amount stored securely in the Bitcoin Suisse Vault,” said Amun AG.

Hany Rashwan, co-founder and CEO of Amun said that the product has been designed for the Swiss by the Swiss to answer a need for a Swiss Franc (CHF)-denominated ETP. “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.”

With its launch, Amun AG now has a total of seven cryptocurrency ETP products listed on the SIX exchange. These include an XRP-based ETP, a BTC-based ETP, a bitcoin cash (BCH)-based ETP, an ETH-based ETP, the Amun Crypto Basket Index ETP and Amun Bitwise Select 10 Large Cap Crypto Index ETP.

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