Binance has collaborated with Switzerland-based ETP issuer Amun to launch the BNB ETP on the Swiss SIX Exchange. The token will now soon be available on the biggest Swiss stock exchange as an exchange-traded product.
An ETP is publicly-traded security that tracks an underlying financial index. BNB ETP, termed as ABNB, will trace the price of Binance token. The trade will start on Tuesday. Binance and Amun hope to appeal to a broader retail market by listing BNB within a financial structure that is widely accessible.
Changpeng Zhao, the exchange CEO, said, “Our partnership with Amun in launching the BNB ETP will provide investors with a new and regulated asset class with a unique dimension to utility tokens, making them more accessible and reliable through a traditional financial infrastructure.”
Binance contributes over 49.4% of the total market cap. The partnership can prove to solidify BNB’s dominance in the market. Hany Rashwan, the Amun CEO, acknowledged the collaboration and commented, “We are so excited to partner up with the world’s largest crypto exchange and make their native token accessible to institutional and retail investors in a secure, affordable, and regulated Swiss exchange-traded product.”