The Swiss counterpart Bitcoin-ETF has become the leader in trading volume on the SIX

The recently presented Amun Crypto Basket ETP has become the leader in terms of trading volume among similar products based on traditional assets on the SIX Swiss Exchange. Reported by The Block .

This exchange traded product (Exchange Traded Product, ETP) is based on a basket of five cryptocurrencies (Bitcoin, XRP, Ethereum, Bitcoin Cash ABC and Litecoin), weighted by market capitalization.

Bidding a new asset under the ticker HODL5 started last week. Initially, ETP traded at a price of $ 13.80. However, amid a deep market drawdown, this asset fell by 15%, dropping to the level of $ 12.40.

According to Richard Johnson, Greenwich Associates expert, cryptocurrency ETPs can be of interest to many trading companies. Such products, he believes, provide ample opportunities for arbitrage operations , since the prices of complex assets and the underlying cryptocurrencies may differ.

“This is another smart opportunity ,” Johnson said, noting that such structured products can increase the liquidity of the cryptocurrency market.

Recall that the investment giant BlackRock still does not dare to launch Bitcoin-ETF . According to the company’s CEO Larry Fink, the legal uncertainty in the field of cryptocurrency is to blame.

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