Amun, the Swiss provider of passive investment products (ETPs) using crypto currencies as underlying assets, has announced it has received approval from the Swedish Financial Supervisory Authority (Finansinspektionen) for its base prospectus under the EU Prospectus Regulation.
It has said it has "extensive plans" to expand its exchange trade product range across the EU, as it seeks to deliver products targeting the crypto currency and blockchain markets.
Ophelia Snyder, president of Amun, said: "Our mission is clear and that is to help investors more safely, cost effectively and easily invest in crypto asset classes through our crypto ETPs. We are very fortunate to have finished this process within four months of its consultancy period. We recognise that the regulatory framework in Sweden has been supportive of such initiatives and we welcome its deliberation. The combination of strong demand for ETPs in Sweden - especially in crypto assets - among private investors and institutional clients and our strong expertise in these product categories create ideal conditions for Amun's entry into the Swedish and European Union markets for ETPs."
Amun states that it "makes investing in crypto assets as easy as buying shares using your conventional broker or bank".
Investing in cryptocurrencies is done using ETP structures on the SIX Swiss Exchange, BX Swiss and Boerse Stuttgart. The company is headquartered in Zug. Currently it claims nine crypto ETPs listed, with more than $55m of AUM in "total listed and planned ETPs".