SIX – which owns and manages the Swiss stock exchange – added fintech Amun as a new exchange-traded product (ETP) issuer to its trading segment. Zug-headquartered Amun was established by a team of fintech entrepreneurs and bankers in July 2018, and the firm’s ETP is the world’s first crypto index ETP listed on a regulated stock exchange.
It is based on the Amun HODL5 index, which includes the four top cryptocurrencies defined by market capitalization: Bitcoin (BTC), Ethereum Ether (ETH), Ripple (XRP) and Litecoin (LTC). The product is fully collateralized and Flow Traders acts as a market maker to this product guaranteeing liquidity during trading hours.
ETPs relate to an underlying instrument that is admitted by the Regulatory Board of SIX Exchange Regulation, i.e. that has a price that is set regularly and that is publicly accessible. Unlike ETFs, an ETP is not a collective investment scheme in the sense of the Federal Act on Collective Investment Schemes (CISA) and with that is not supervised by FINMA. This product is not CCP eligible.