The SIX Swiss Exchange has given the go-ahead to an exchange-traded product tracking multiple cryptocurrencies, in keeping with a financial Times report.

The Swiss regulators have raced before the U.S., by agreeing to greenlight the Amun Crypto Exchange Traded Product (ETP).

Based on the reports, the Amun Crypto ETP,, can have half of its assets invested with in Bitcoin (BTC), whereas the other half are going to be shared between Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

ETPs are derivative investments that are traded on securities exchanges, valued on the basis of a commodity or within the case of the Amun Crypto ETP, the benchmark would be cryptos. The approval from the SIX Swiss Exchange could be a landmark event as no exchange-traded product exist anyplace, not even in the U.S., wherever the Securities and Exchange Commission has kept everyone guessing on when it might approve the first Bitcoin Exchange Traded Fund (ETF).

Amu chief executive officer and co-founder Hany Rashwan expressed within the report that the exchange-traded product would meet the identical standards needed by alternative “traditional exchange-traded products widely utilized by investors.”

He went on further to state:

“Amun’s EUN will offer institutional investors limited to investing only in securities or will not want to establish custody for the exposure of digital assets to cryptocurrencies; it will also provide access to retail investors who currently do not have access to trade crypts due to local regulatory impediments.”

Amun received preliminary approval from the SIX Exchange Regulation in September, that clearly expressed that the company’s ETP would be eligible for listing on the exchange. The fintech company was established by a team of bankers whose goal is to create the method of buying cryptocurrencies as simple as possible, in a regulated manner.

Speaking on why the company chose Switzerland as its base, Rashwan had stated:

“We believe Switzerland to be the most effective jurisdiction for our base and intend, after launching our initial products on the SIX Swiss Exchange, to both launch additional products as well as dual-list across additional geographies and stock exchanges.” Going further, Rashwan discovered the company plans to launch “an index basket ETP first,” which might make it simple for investors “to ‘buy the market’ instead of trade specific crypto assets, though we arrange on launching specific trackers for each asset in the future too.”

** Important : If any body likes my cryptocurrency news and wants to donate BTC then send me as little as you can to my Bitcoin wallet address for running my blog.

This is my Bitcoin wallet address : 3KZSXtJ8ZN6bBzLsyLHAxL5AcCpbdC3XcX