MV Index Solutions (MVIS) and Swiss fintech firm Amun AG announced Thursday the launch of their newest crypto ETP, in association with Bitcoin Suisse. The Amun Bitcoin Suisse ETP (ticker: ABBA) has started trading on SIX Swiss Exchange, the main stock exchange in Switzerland for traditional investments such as stocks, bonds, and exchange-traded funds (ETFs).
Switzerland’s principal stock exchange now has seven cryptocurrency exchange-traded products (ETPs) listed. They allow investors to either gain exposure to individual cryptocurrencies or invest in portfolios of top cryptocurrencies. Four ETPs track the prices of single cryptocurrencies.
Crypto Index in Swiss Franc
The new crypto ETP is designed to track the prices of both BTC and ETH. MVIS Managing Director Thomas Kettner commented:
It’s our first index in CHF and especially designed to serve the Swiss market which has been demanding such an index.
Details of the Amun Bitcoin Suisse ETP. Source: SIX Swiss Exchange.
“The Amun Bitcoin Suisse BTC/ETH ETP was designed for the Swiss by the Swiss”, Amun CEO Hany Rashwan remarked. “It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX exchange and backed by a Swiss-based custodian.”
As of Oct. 4, the ETP’s underlying index comprises 88.68% BTC and 11.33% ETH. “Index weightings are reviewed on a monthly basis, based on the current market capitalization of each coin. The index is market capitalization-weighted, no cap or floor is being applied”, the Zug-based company clarified. As news.Bitcoin.com previously explained, ETPs listed on SIX Swiss Exchange are not ETFs.
MVIS is a wholly owned subsidiary of Van Eck Associates Corporation. Van Eck recently withdrew its application with the U.S. Securities and Exchange Commission (SEC) to trade a bitcoin ETF on the Cboe BZX Exchange. Instead, the company is now offering its bitcoin product to institutional investors under Rule 144A of the Securities Act of 1933, which is exempt from the SEC’s registration requirements.
6 Other ETPs Listed on SIX Swiss Exchange
Other than the newly listed ETP, there are six other crypto ETPs trading in USD on SIX Swiss Exchange. Four of them seek to track individual prices of single cryptocurrencies: BCH, BTC, ETH, and XRP.
Amun’s six other crypto ETPs currently listed on Six Swiss Exchange. Source: Amun AG.
The Amun Bitcoin ETF (ticker: ABTC) started trading on Feb. 26; it seeks to track the price of BTC only. The next to launch was the Amun Ethereum ETP (ticker: AETH), which started trading on March 5. The Amun Ripple ETP (ticker: AXRP) started trading on April 2, followed by the Amun Bitcoin Cash ETP (ticker: ABCH) on July 4.
The other two ETPs track the performances of baskets of cryptocurrencies. The Amun Crypto Basket Index ETP (ticker: HODL), the first crypto ETP listed on SIX Swiss Exchange, started trading on Nov. 21 last year. This product seeks to “track the investment results of an index composed of top five cryptocurrencies ranked by market capitalization”, Amun described. As of September, the portfolio comprises 50.27% BTC, 21.29% XRP, 19.10% ETH, 4.89% BCH, and 4.45% LTC.
The September asset allocation of the Amun Crypto Basket Index ETP. Source: Amun AG.
The other basket crypto product by Amun AG is called the Bitwise Select 10 Large Cap Crypto ETP (ticker: KEYS). It “seeks to track the investment results of an index composed of up to the top 10 cryptocurrencies ranked by inflation-adjusted market capitalization”, Amun detailed. The underlying index is the Bitwise Select 10 Large Cap Crypto Index. As of Oct. 3, BTC accounts for 77.84% of this index, followed by ETH (9.10%), XRP (5.70%), BCH (2.11%), LTC (2.11%), EOS (1.46%), XLM (0.60%), XMR (0.52%), ADA (0.47%), and DASH (0.42%).
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