Swiss fintech lists crypto bitcoin on SIX Swiss Exchange

Swiss fintech lists crypto bitcoin on SIX Swiss Exchange

Swiss fintech specialist Amun AG has launched the world's first physically-backed crypto Bitcoin ETP (ABTC) on SIX Swiss Exchange. This ETP gives access to the world's most popular crypto coin. 

Amun Bitcoin ETP is a fully collateralised product which is denominated in US dollars and has an annual investor fee of 2.5%.

Investors can buy it in a professional and reputable jurisdiction without worrying about custody, which for the underlying component of the ETP, is handled by qualified and independent custodians and also held in cold storage.

Hany Rashwan, CEO and co-founder of Amun AG, said: "The mission of our company is to make crypto investing as easy as purchasing shares, and the launch of the Amun Bitcoin ETP is a crucial step in this process after our initial launch of Amun Crypto Basket Index ETP (HODL) in late 2018. 

"With both HODL for the index and ABTC for the single coin, we have given investors around the world access to this innovative and exciting asset class through a regulated exchange and the traditional financial market. We also plan to launch more products across multiple geographies".

Ophelia Snyder, chief product officer and co-founder of Amun AG commented: "With our first product, HODL, we overcame the obstacles of diversification, inadequate regulatory standards and limited tradability. With our second product, ABTC, we offer investors the ability to purchase a single-coin ETP that has the benefit of a market maker to ensure liquidity and that is 100% physically-backed.  Our ETPs are very similar and have the same principal characteristics as a physical gold ETP and therefore appeal to a wide range of investors".