Switzerland Launches World’s First Crypto ETFs

November 20, 2018
Darya Karatkevich

Switzerland is considered one of the top worldwide leaders in the adoption of blockchain and crypto, so having this tiny European country as pioneers in the industry comes as no surprise. In another wave of approvals, country’s leading cryptocurrency exchange, Six, got the green light to launch exchange-traded funds (ETFs) on their platform. The new cryptocurrency will be called “Amun Crypto exchange-traded product (ETP),” or The Amun Crypto ETP in short.

World's first crypto etfs

The Amun will consist of the five leading cryptocurrencies, such as Bitcoin, XRP, Ethereum, Bitcoin Cash, and Litecoin, which are being weighted at 49.7 percent, 25.4 percent, 16.7 percent, 5.2 percent and 3 percent correspondingly. The funds will be subject to a 2.5 percent management fee yearly.

Switzerland’s ETFs are legally the only true exchange-traded funds, since the other similar concepts on the market track only single coins instead of a curated combined fund. The launch of The Amum ETP undeniably sets the precedent, and there will be more exchange-traded funds coming to the market shortly, financial analysts say.

Post written by Darya Karatkevich
Darya is a blockchain market observer with 5+ years of experience as an author and editor for major tech blogging platforms. Her fortes are blockchain technologies and solutions, cryptocurrencies and crypto-related regulations.

Related News

Bahrain drafts new regulation to address the demands of the crypto market December 15, 2018
Can Trump’s border wall be built with crypto? December 15, 2018

Leave a Reply

Your email address will not be published. Required fields are marked *