One of the largest European stock exchanges SIX Swiss Exchange plans to launch an exchange product based on several cryptocurrencies within a week.
The crypto-ETP was formed with the participation of the startup Amun AG and will receive the HODL index. It will represent a portfolio of the most popular coins. The main part (47.7%) will be occupied by bitcoin (BTC), 25.4% will be allocated to ripple (XRP), another 16.7% will be ether (ETH), the shares of bitcoin cash (BCH) and litecoin (LTC) will be 5, 2% and 3% respectively.
According to the management of Amun AG, the derivative will fully comply with the strict requirements that apply to traditional exchange-traded funds. This will make it attractive to all groups of investors, even those who are limited in their activities..
ETP is a type of security that includes ETFs, ETNs, and other trading instruments. Their value depends on the prices of the underlying assets, as is the case with derivatives. However, experts believe that for investors, exchange-traded products are more convenient options than futures, so they can more effectively stimulate market growth..
The central banks of Great Britain, Canada and Singapore have also appreciated the benefits of using virtual currencies. In his report they suggested using CDBC for cross-border payments
text: Ivan Malichenko, photo: Shutterstock