Swiss SIX Exchange Offers CHF Exposure to Bitcoin (BTC), Ethereum (ETH)
The new product by Amun will offer direct Swiss franc investment into a basket of Bitcoin (BTC) and Ethereum (ETH).
A first of a kind exchange-traded product is now open on the SIX exchange, offering a Swiss franc market for a basket of Bitcoin (BTC) and Ethereum (ETH). The ETP has been engineered through a partnership between Bitcoin Suisse and Amun, two of the biggest Swiss companies dealing with crypto-based finance. Amun is also known for offering ETPs for a small portfolio of crypto assets, including BTC and leading altcoins.
“We are excited to launch our first exchange-traded product, part of our continually expanding range of services. Along with Amun, we share a strong desire to pioneer new possibilities in crypto finance, building with the highest standards of technology and service which Bitcoin Suisse offers since 2013,” said Lothar Cerjak, Head Institutional Services & Products at Bitcoin Suisse.
The ETP is especially targeted to Swiss investors, hence the first CHF denomination. The CHF is one of the rarer currencies for trading crypto assets, and the fund offers a direct fiat entry to BTC and ETH exposure.
SIX Exchange is one of the markets for funds based on leading digital coins. The NASDAQ Nordic already offers exchange-traded notes based on BTC and ETH. The European approach is more liberal to those types of funds, unlike the USA, where a BTC-based exchange-traded fund is still not going through.
In the USA, the US Securities and Exchange Commission has taken an overall stern approach over issuing ETFs based on hot trends, and that includes blockchain and BTC.
The ABBA product is administrated by Amun Onyx Platform, a proprietary issuer of products based on digital coins. The new ETP is available to institutional and retail investors in Switzerland and worldwide.
Bitcoin Suisse has been instrumental to some of the biggest crypto projects, and is one of the biggest OTC market providers in Europe. The company offers a wide-ranging portfolio of services, including advising on issuing crypto assets, as well as Tezos (XTZ) staking.