Swiss Exchange SIX To List Exchange Traded Multi-Crypto Exchange

The Financial Times (FT) said SIX Swiss Exchange will list the world's first multi-crypto-based fund (ETP) next week. The world's first multi-crypto FTE, supported by Swiss start-up Amun AG, is ranked in the HODL index and monitors five major cryptocurrency currencies: Bitcoin (BTC), Swell (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin. (LTC).

According to the news, each cryptocurrency provides some market share within the next FTE, accounting for bitcoins corresponding to about half of the FTE's resources. The remaining divisions should be divided into 25.4% in the second XRP cryptocurrency and 16.7% in Ethereum, while Bitcoin Cash and Litecoin obtain 5.2% and 3% respectively of the market.

Hany Rashwan, co-author and chief executive of Amon, said the future ETF is being organized to comply with the same strict provisions as conventional FTEs. According to Rashwan, this will provide a well-regulated instrument for cryptocurrency trading to institutional investors and individuals who are limited by anti-crypto situations in the field.

According to the leading Swiss news agency Finews.com, the Amun ETP index will be managed by the German VanEck Investment Management Unit. If Amun AG is based in Zug, Switzerland, it would be a subsidiary of Amun Technologies, a UK-based financial technology company. According to Bloomberg, the company announced for the first time its intention to set up a crypto ETP at the end of September this year.

According to Aun's official website, SIX Swiss Exchange is the fourth largest stock exchange in Europe with a market capitalization of $ 1.6 trillion. On Wednesday, Nov. 14, Thomas Zeeb, Head of Securities and Scholarships at SIX, said the blockchain – based digital scholarships would completely replace the classic stock exchanges by about "ten years from now," citing the stock market. considerable interest that brokers, banks and insurance companies give to the costs of technology. .

According to Investopedia, FTEs correspond to a sort of value estimated indirectly and traded intradaily in a national securities market, based on speculation tools such as commodity, currency, share price or interest rate. FTEs, including exchange-traded funds (ETFs) and others, can be effectively monitored.

Some experts have anticipated that the appropriation of Bitcoin ETFs would be a "much more advantageous transaction" than a cash settlement contract for Bitcoin futures and would therefore be a more important principle for the development of cryptography markets.

In Sweden, XBT suppliers now have a Bitcoin ETP called Coinshares, valued at around $ 1 billion since 2015, when it was added to Sweden's main Nasdaq Stockholm trade.

The US Securities and Trade Commission (SEC) recently stopped accepting public comments on its investigation of the Bitcoin ETFs' policy after the previous refusal to list and exchange different BTC ETFs from three companies ProShares, Direxion and GraniteShares, in nine applications.