The Amun Crypto Basket ETP crypto Fund, which has already been dubbed the Swiss analogue of bitcoin–ETF, showed the highest growth rates of trading on the SIX exchange. This was reported by the Block with reference to the data of the trading platform.
The Fund offers to use the product Exchange Traded Product, which is based on a common complex of five digital assets, including bitcoin, XRP (Ripple project), Ethereum, Bitcoin Cash ABC and Litecoin.Each cryptocurrency is represented by its average market value. The crypto Fund combined operations with all of the above digital assets into one product under the designation HODL5.
The first transaction was launched last week. The initial cost of the product was $ 13.8. Then, against the backdrop of the sagging crypto market, this asset fell in price by about 15% to 12.4 dollars.
Greenwich Associates analyst Richard Johnson stressed that the products of the crypto Fund may be of interest to a variety of trading companies. They create additional advantages for operations, since the cost of a complex asset can significantly differ from the dynamics of the course of a single token that is part of it.
“Additional opportunities are being created for investors, and the cryptocurrency market, due to the high interest in it from traders, will be able to significantly improve its liquidity,” Johnson said.
It is possible that the launch of the new product will have a positive impact on the situation of bitcoin and altcoins, which continue to become cheaper, which creates a threat to the exit of large players from the crypto market.
Switzerland is on the list of countries with a special interest in cryptocurrencies and blockchain. Proof of the liberal attitude of the authorities of the country to the crypto sphere was the fact that the cryptocurrency product Amun Crypto ETP with a capitalization of 1.6 trillion dollars was admitted to one of the largest European trading platforms SIX Swiss Exchange.
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