The world’s first Cryptocurrency ETF has been approved by the Switzerland authorities which will start trading on SIX, the 4th largest exchange in whole Europe which has a market capitalization of over $1.6 trillion.
ETF offered by Amun AG
Amun AG, a cryptocurrency startup is offering the fund that will allow the institutional investors to invest in the major cryptocurrencies such as bitcoin, ethereum, ripple, litecoin, and bitcoin cash.
Hany Rashwan, the CEO and Co-founder of the company said that the following ETP will provide an opportunity to the institutional investors that are restricted to investing in just securities and also give the same opportunity to retail investors that are unable to access cryptocurrency exchanges to due regulatory pressure. The CEO also said that before choosing Switzerland, the company had explored 23 other destinations around the world but found Swiss the most suitable.
The ETF will allow investors in buying the market and investing in crypto market as a whole. When investors will be investing in a fund, an amount equal to their purchase value will be held on their behalf by the custodian.