Saturday, June 22, 2024

A world-first, Bitcoin and Ether CHF-denominated ETP lists on the SIX Swiss Exchange

Amun AG and Bitcoin Suisse AG, two of the leading Swiss-based companies in the crypto financial services space, have partnered to launch the Amun Bitcoin Suisse BTC/ETH ETP (ticker ABBA), the first CHF denominated crypto ETP listed on SIX exchange, enabling Swiss investors to add a basket of bitcoin and ether to their portfolio, using their conventional brokers/banks. Trading is set to begin tomorrow.

A truly innovative product by the Swiss, for the Swiss

The market-weighted ABBA ETP is composed of a basket of approximately 90% of bitcoin and 10% of ether as of today. The combined market capitalisation of bitcoin and ether gives investors exposure to more than 75% of the overall crypto market – in a very secure and transparent structure. This physically-backed ETP is fully collateralized, which means that for every bitcoin and ether bought for the ETP, there will be an equal corresponding crypto amount stored securely in the Bitcoin Suisse Vault. The ETP is issued by a Swiss company, custodied in Switzerland and traded on the Swiss stock exchange.

Lothar Cerjak, Head Institutional Services & Products, Bitcoin Suisse says: “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.”

Hany Rashwan, Co-Founder and CEO, Amun, explains: “The Amun Bitcoin Suisse BTC/ETH ETP was designed for the Swiss by the Swiss to answer a need for a CHF denominated ETP. It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian. This product further exemplifies Switzerland’s leading position in the crypto space, where Amun is able to work closely with the exchange and authorities to create regulated, compelling, and institutional-grade financial products.”

Bitcoin Suisse provides the custody of the cryptocurrencies via their Bitcoin Suisse Vault solution. The Bitcoin Suisse custody service applies the highest standards of cryptographic security, physical safekeeping and already manages 1+ billion USD storage volume (as of June 2019.)

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