Today marks the start of the world’s first crypto index product on the stock exchange SIX in Zurich, Switzerland. The product called the “Amun Crypto ETP” will track the investment results of an index composed of the top four crypto assets ranked by market capitalization. It is the world's first crypto index ETP listed on a regulated stock exchange.
The “Amun Crypto ETP” is backed by Amun, a London-based financial technology firm. According to the CEO Hany Rashwan, the fintech company chose Switzerland to launch their product after a thorough evaluation of 28 different jurisdictions:
We have felt great about Switzerland since the beginning. In addition to its rich history around national sovereignty, neutrality, and professional excellence, it has been a joy working with forward-thinking regulators and other partners who are excited about bringing the Crypto Nation vision to life. We hope Amun can be a small step on that journey.
Swiss stock exchange paves the way
SIX Swiss Exchange, Switzerland’s major stock exchange based in Zurich, approved the listing of the world’s first multi-crypto-based exchange-traded product (ETP). SIX is trading a wide range of securities and providing significant liquidity in the European capital markets. With a market capitalization of $1.6 trillion, SIX Swiss Exchange is the 4th largest stock exchange in Europe. SIX Swiss Exchange was the first stock exchange in the world to incorporate a fully automated trading, clearing and settlement system in 1995. It is known for its friendly attitude to cryptos.
Several banks have launched crypto derivatives in Switzerland, among them Vontobel, Swissquote as well as the derivatives expert Leonteq.