SIX – which owns and manages the Swiss stock exchange – welcomes Swiss fintech Amun as a new Exchange Traded Product (ETP) issuer to its trading segment. The Amun ETP is the world’s first crypto index ETP listed on a regulated stock exchange. It is based on the Amun HODL5 index, which includes the four top crypto currencies defined by market capitalization: Bitcoin (BTC), Ethereum Ether (ETH), Ripple (XRP) and Litecoin (LTC). Trading of the new product starts today.
Amun AG was established by a team of FinTech entrepreneurs and bankers in July 2018, incorporated and registered in Zug, Switzerland, as a public limited corporation. After exploring more than 28 different exchanges and territories around the world, Amun AG settled on Switzerland for its financial excellence and regulatory stability.
An ETP is a collateralized, non-interest-paying bearer debt security issued as a security and traded as well as redeemed in the same structure on a continuous basis. Collateral is deposited with a third party and amounts to at least 100% of the outstanding amount. ETPs relate to an underlying instrument that is admitted by the Regulatory Board of SIX Exchange Regulation, i.e. that has a price that is set regularly and that is publicly accessible. Unlike ETFs, an ETP is not a collective investment scheme in the sense of the Federal Act on Collective Investment Schemes (CISA) and with that is not supervised by FINMA. This product is not CCP eligible.
The underlying of the product is the Amun Crypto Basket Index (HODL5), an index comprised of the four most liquid crypto currencies defined by market capitalization, i.e, Bitcoin (BTC), Ethereum Ether (ETH), Ripple (XRP) and Litecoin (LTC). The product is fully collateralized. Flow Traders acts as a market maker to this product guaranteeing liquidity during trading hours. http://amun.com/en/