• Sun, 08 Dec 2019, 05:32 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Amun AG launches Tezos ETP on Swiss SIX Exchange; makes available 7 crypto ETPs on Boerse Stuttgart

Thu, 14 Nov 2019, 12:13 pm UTC

Swiss fintech startup Amun AG has launched a new crypto exchange-traded product (ETP) which tracks tezos (XTZ), one of the top 20 cryptocurrencies by market capitalization.

CoinDesk reported that the firm has listed the Amun Tezos ETP under the ticker ‘AXTZ’ on the SIX Swiss Stock Exchange.


The firm, which claims to have around $70 million in assets under management, has listed a total of nine crypto ETPs on SIX to date, including Amun Tezos ETP.

As per the details, the new product’s underlying assets are secured and managed under the Coinbase Custody platform.

With Tezos built on the proof-of-stake (PoS) consensus mechanism, Amun Tezos ETP will also issue staking rewards by Coinbase. These staking rewards, which are called “baking” in the Tezos system, will be automatically reinvested into ETP shares of the holder.

“Some staking services initially began as being secluded to a specific blockchain,” Amun CEO Hany Rashwan said in the statement. “Via our ETP, [investors can] participate in the associated rewards for contributing to the security and stability of the Tezos blockchain – without the need to ever have to set up a crypto wallet or taking care of a private key.”

Rashwan told The Block that investors can buy a stock for as low as $20, adding that the company will “we bake/stake on their behalf and return it to them as a dividend without them required to do any staking on their own.”

Expansion to Germany

ETF Stream on Thursday reported that Amun has opened up its crypto ETPs to a wider range of European investors with the listing of seven of them on Boerse Stuttgart.

While previously the ETPs were listed on SIX and denominated only in US dollars or Swiss Francs, the seven ETPs launched on the German stock exchange are denominated in euros. European investors would now be able to buy a basket of cryptocurrencies through the HODL crypto basket and get exposure to more than 90% of the overall cryptocurrency market by market capitalization.

"For the first time, European investors have access to an institutional-grade, low-cost, exchange-traded investment vehicle in Euros tracking a basket of crypto currencies and other single issuances," said Laurent Kssis, managing director of Amun AG (as quoted by The Block).

With this, the firm has a total of 25 products in two countries (Germany, Switzerland), in three currencies (CHF, EUR, USD) and across three stock exchanges (Borse Stuttgart, BX Swiss Exchange, SIX).

“We now have 25 total ETPs, making Amun far and away the largest issuer of crypto ETPs. At this point, 75% of all crypto ETPs have been issued by our firm,” Rashwan added.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,509.69 (-0.86%)
  • Ethereum (ETH) $148.91 (-0.53%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $212.13 (-1.30%)
  • Litecoin (LTC) $45.61 (-0.65%)
  • Bitcoin (BTC) $7,509.69 (-0.86%)
Dec 6, 2019 (Friday)
13:25
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:24
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:19
Crypto Technicals: LTC/USD extends sideways, finds strong support at 42.45 (Trendline)
11:18
South Korean consortium to provide blockchain-based ID services via mobile app in 2020
10:31
Crypto Technicals: BCH/USD intraday bias turns slightly bullish, scope for test of 20-DMA (220.99)
10:00
Bitfury launches enterprise blockchain platform ‘Exonum Enterprise’
08:44
CULedger reveals an EFT payment solution for credit unions in collaboration with R3, Luxoft
07:37
Reserve Bank of India governor against the development of private digital currencies
07:34
Ripple asks court to dismiss XRP securities lawsuit in latest filing ahead of court meeting
07:30
Crypto Technicals: ETH/USD struggles to extend recovery, finds stiff resistance at 200H MA at 149.77
05:47
Blockchain firm Figure Technologies hits $1.2B valuation after closing $103M Series C round
05:03
Blockchain firm ChromaWay acquires Antler Interactive after setting up its gaming arm Chroma Studios
04:42
Galaxy Digital-backed Flipside Crypto hires Accenture Managing Director Matt Bridges as COO
04:23
Crypto Technicals: BTC/USD rangebound in the Asian session, struggles at 200H MA
03:56
Canadian mining firm goes belly up; Owes local, federal government hundreds of thousands
03:54
New crypto derivatives trading platform Phemex can manage 300,000 TPS, says core developer
03:51
Microsoft creates blockchain-based incentive scheme with Enjin to recognize active members of Azure community
Dec 5, 2019 (Thursday)
13:09
Dunamu’s crypto subsidiary DXM partners with Ledger to launch custody service for institutional clients
11:28
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:28
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft