Cryptocurrency tracking tools traded on existing stock exchanges allow institutional and corporate investors to gain exposure to digital assets. There is now a new option to invest in Bitcoin Cash (BCH) with a product exchanged in one of the most developed markets in the world. Under the ABCH bar, bitcoin cash is Amun's sixth crypto asset tracker listed on the Six Swiss Stock Exchange.
Bitcoin Cash exchange traded products
Amon AG, the Swiss fintech company that aims to facilitate access to crypto asset investments, announced on Friday, July 5 that it has listed its first exchange-traded product (ETP) that tracks the performance of Bitcoin Cash (BCH). Founded in 1850, Six is the main exchange in Switzerland. It provides traders with securities including Swiss government bonds as well as derivatives such as stock options.
Amun Bitcoin Cash ETP is a fully secured, dollar-denominated product that has an annual investor fee of 2.5% that includes custody, insurance, and rebalancing fees. This new crypto investment tool is made by Roger Ver with 25,000 BCH, valued at over $ 10 million as of today.
The influx of institutional funds into digital assets of all kinds over the past few years has helped the new market mature, giving it a similar standing to investment categories such as stocks and other stocks. By giving investors another option to take advantage of the success of Bitcoin Cash, this new tool will also support the cryptocurrency into the mainstream as more people are exposed to it financially.
The Amun Center is located in Zurich in 2018 and is led by a team of armed businessmen and experienced professionals from the asset management sector. The enterprise-grade security and protection solution uses a variety of safety measures including cold storage, multiple private keys, checklists and audit trails to preserve key cryptographic assets.
“As Bitcoin Cash has become a game changer in the crypto space and beyond, I think Amun has the credentials to implement our goal, which is to adopt Bitcoin Cash globally. We are confident that our investment in the new Amun BCH ETP will set the example and drive more investors to join the growing community that He believes in the success of Bitcoin Cash, ”explained Roger Ver, CEO of Bitcoin.com.
Six Swiss offerings with ETPs encryption
The launch of the product traded on the Biosafety Clearing-House follows the listing in the past nine months of five ETP operations by Amon trading on six. These cover the top 10 cryptocurrencies using the Amun Bitwise Select 10 Large Crypto Index ETP (KEYS), the top five cryptocurrencies using the Amun Crypto Basket Index ETP (HODL), plus three individual asset trackers on bitcoin (ABTC), ethereum. (AETH) and (AXRP) ripple.
Hany Rashwan, Co-Founder and CEO of Amon commented, “We present our strategy, which is to provide investors with a wider range of products in the crypto asset space, which are readily available in one of the most popular markets, the Swiss Exchange Market. Thanks to this product, investors can Now easily add Bitcoin Cash (BCH) to their portfolio. "
Given the occasional confusion between ETPs and ETFs (exchange-traded funds), it is important to note that although there are technical similarities between the two instruments, they are two different legal products, and they are listed under different classes on the Six Swiss Exchange. When the issue arose last year, the exchange clarified the following: “Collateralized debt securities (ETPs) are considered collateralized and non-earning debt securities that duplicate the asset [the asset] (generally from the commodity sector), either on a regular basis or on a leveraged basis. Such as. Exchange-traded funds are traded in the multi-market industry sector, but from a legal point of view, they are not money. "
Not satisfied with just being an investment hub in crypto asset tracking products, Six is also looking for additional ways to capitalize on the innovation underpinning cryptocurrency. Earlier this year, the head of the stock exchange Romeo announced to the last the intention of Six to launch a new market supported by blockchain technology during the second half of 2019. The site, which will be called SIX Digital Exchange (SDX), is expected to initially run in parallel with the platform. The old six exchange.
By incorporating distributed ledger technology, transactions on SDX would require only one step and could be completed in less than one second, while the legacy platform required three processes that could take several days to finish. Lacher also stated at the time that the exchange was hoping to conduct a security token offer.
Swiss advantage
The launch of this Bitcoin-traded product is the latest example of how Switzerland is progressing to most other countries in terms of cryptocurrency financing. For centuries the country was known around the world for its tradition of banking secrecy, but now the cryptocurrency industry is well established in the country.
Cryptocurrency, community organizations and entrepreneurs have helped put the sparsely populated Swiss canton of Zug on the business world map as "Crypto Valley". This is mainly because local administration has created one of the most welcoming environments for the industry, in contrast to more restrictive jurisdictions such as the United States where many companies complain that heavy regulations do not encourage innovation.
The latest example of this trend is of course the creation of a Facebook site to manage the balance coins in Switzerland, which US politicians see as a potential threat to the dominance of the US dollar.
What do you think of the inclusion of Bitcoin Cash on the Swiss Stock Exchange? Share your thoughts in the comments section below.
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