Switzerland set precedent with world's first cryptocurrency ETP
##### This Switzerland's leading stock exchange has allowed the Financial Times report to go ahead for the world's first cryptocurrency ETP. They told us that cryptocurrency-based exchange traded funds were coming.
This Amun Crypto ETP will track the index made with the five leading crypto capacitors, including bitcoin, XRP, Ethereum, bitcoin cache and light cone. This ETP is called Amun Crypto Exchange Traded Product and will operate on "Six" exchanges in Zürich from next week.
There is no mention of the fact that the fund is planning to address Bitcoin Cash hard forks recently. But this is the management fee; Paying professionals to make decisions on behalf of the investors. Each of these coins will be weighted at 49.7 percent, 25.4 percent, 16.7 percent, 5.2 percent and 3 percent respectively. This fund has an annual management fee of 2.5 percent.
However, there are similar products on the market, in legal terms, they are not true ETFs because they track only one coin rather than curate funds, or are based around these derivatives. Perhaps the best thing about this ETP is that its commercial ticker is simply "HODL". This is a non-microfinance for cryptocurrency investors across the globe.
This establishes an example of Switzerland's true cryptocurrency-based ETF unquestionably. It could mark the beginning of more cryptocurrency ETF to build it in the market. In fact, this Goldman Sachs launched a bitcoin derivative earlier this year, which is based around the futures contract, and is signing the selected investors.
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