Amun AG, a Swiss fintech special purpose company, launched the world’s first physically-backed crypto bitcoin ETP, which gives access to the world’s most popular crypto coin. The Amun Bitcoin ETP is a fully collateralized product which is denominated in US dollars and has an annual investor fee of 2.5%.
Hany Rashwan, CEO and co-founder of Amun AG, said in a statement: “The mission of our company is to make crypto investing as easy as purchasing shares, and the launch of the Amun Bitcoin ETP is a crucial step in this process after our initial launch of Amun Crypto Basket Index ETP in late 2018. With both HODL for the index and ABTC for the single coin, we have given investors around the world access to this innovative and exciting asset class through a regulated exchange and the traditional financial market. We also plan to launch more products across multiple geographies”.
Ophelia Snyder, chief product officer and co-founder of Amun AG, added: “In the expanding market of crypto assets globally, there have hardly been any suitable financial instruments for the vast majority of investors…With our second product, ABTC, we offer investors the ability to purchase a single-coin ETP that has the benefit of a market maker to ensure liquidity and that is 100% physically-backed. Our ETPs are very similar and have the same principal characteristics as a physical gold ETP and therefore appeal to a wide range of investors”.