The world’s first multi-asset cryptocurrency index exchange-traded product (ETP) has been launched on Switzerland’s main stock exchange: SIX Swiss Exchange. ‘Amun AG’, a Swiss company based in Switzerland’s famous crypto valley is the issuer of this ETP with an apt ticker symbol is: HODL. The ETP was planned as a basket of five of the most popular and liquid cryptos: BTC (49.7 %), BCH (5.2 %), ETH (16.7 %), XRP (25.4 %), LTC (3 %). However in the light of the recent infamous BCH hash wars, BCH has been potentially dropped. The new composition stands at: BTC (48.41 %), BCH ABC (NA), ETH (15.36 %), XRP (33.56 %), LTC (2.67 %).
Hany Rashwan, co-founder and CEO of Amun:
“The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments.”
Thomas Kettner, Managing Director at MVIS, said:
“Cryptocurrencies have taken the world by storm since last year. Amun’s approach with a forward-looking and volatility adjusted weighting scheme is an enhancement of existing concepts and a valuable alternative for investors who do not want to follow the crowd.”
The ETP is required by law to hold as collateral the five underlying cryptos. It also excludes cryptos that are tied to a fiat currency (e.g. Tether) or designed to be anonymous like Monero. Stay tuned and don’t miss the future, The Future is Now!
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