Swiss stock exchange SIX Group has listed an -based exchange-traded product (ETP).
SIX Group Tuesday that for the Amun ETP started on March 5 under the ticker symbol AETH. The product carries an annual management fee of 2.5 percent and is backed by Switzerland-based firm Amun AG.
ETPs are a type of financial instruments with an underlying asset such as commodity or that are traded on stock exchanges in a similar way to shares.
The Amun ETP is now the third -based ETP to be listed on SIX exchange. Late last month, the exchange for Amun ETP under the ticker symbol ABTC.
And, last November, the stock exchange the Amun Crypto Basket Index ETP under the ticker symbol HODL which tracks the top 5 crypto assets in terms of market capitalization and liquidity. It currently , ether, XRP, cash and .
The firm claims on its website that the basket ETP is up 1,113 percent since its launch.
Amun’s for -based ETPs issued last November states that the crypto ETP products do not qualify as a collective investment scheme under the Swiss Federal Act on Collective Investment Schemes (CISA). As such, the products are “neither governed by the CISA nor supervised or approved by the Swiss Financial Market Supervisory Authority FINMA,” it adds, and therefore do not provide the investor protections provided under the CISA.
SIX Group also recently announced plans to to speed up of stocks and bonds later this year.
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Published at Wed, 06 Mar 2019 09:13:07 +0000
