Regulators in Switzerland have approved a crypto-ETP (Exchange Traded Products) called Amun Crypto Basket Index. The ETP has been traded on the SIX Swiss Exchange, one of Europe’s largest exchanges, since last week under the ticker symbol HODL. This is the world’s first approved ETF-style securities trading on a major stock exchange.

An ETP is a derivative investment that is traded on stock exchanges and is valued on the basis of another investment such as a commodity or a currency. In the case of the Amun Crypto Basket Index (HODL), the value is based on the four cryptocurrencies Bitcoin, Ether, XRP and Litecoin.

The ETP was traded on the first day of the launch with a volume of over CHF 400,000 and today, on November 28, 2018, shows the best performance of all ETPs listed on the Swiss stock exchange. Mato Greenspan, eToro’s lead market analyst, commented on the introduction of HODL as follows:

The new Swiss crypto-ETP is today one of the most popular products on the Swiss stock exchange […] No more questions, institutions are here!

Following the successful launch of Tracker Certificates on Bitcoin in early October 2017, Leonteq is adding a short tracker certificate to the most important crypto currency for its range of Bitcoin products. Investors now have the opportunity to implement a bearish assessment of the Bitcoin price with an investment product. The short tracker certificate is listed on the SIX Swiss Exchange.

For the latest Bitcoin News, join our Telegram

image by shutterstock