Europe's fourth largest and Swiss stock exchange Six approved the launch of Amun Crypto ETP, a traded product under the Hodl ticker.
Starting next week, Hodl will begin tracking several major cryptocurrencies. ETP assets will be distributed as follows:
At the same time for the management of assets set an annual commission of 2.5%.
According to the co-founder and head of the Swiss division of London-based Amun Technologies, Hani Rashwan (Hany Rashwan), ETP was created in accordance with the same rules that apply to other exchange products that are popular among investors.
The advantage of this product is that it gives access to cryptocurrencies to securities-limited institutional investors and private investors who, due to regulatory restrictions in their jurisdictions, cannot use cryptocurrency exchanges .
In the future, as Rashvan says, his company is preparing to launch new products for each cryptoactive.
Recall that since August 15, investors have been given the opportunity to make indirect purchases of cryptocurrencies using the acquisition of exchange notes (ETN) for bitcoins for US dollars offered by the Swedish company XBT Provider AB, a subsidiary of the British CoinShares Holdings, on the NASDAQ Stockholm stock exchange (NASDAQ OMX Nordic ).
However, the US Securities and Exchange Commission (SEC) soon suspended ETN trading. A month later, the company XBT Provider AB announced that by the end of the year they plan to launch similar products for another 5-10 altcoins.
Meanwhile, the crypto community is waiting for SEC approval to launch Bitcoin- based exchange index funds (ETF), but Reggie Browne, known as the “godfather of ETF,” believes that this will not happen in the near future. Head of BK Capital Management Brian Kelly (Brian Kelly) predicted that the regulator will not make a decision before the end of this year, and analysts at Canaccord Genuity, the largest Canadian investment company, are confident that SEC approval of Bitcoin-ETF can be expected no earlier than the end of the fiscal year – March 31.
