Six adds exchange-traded ethereum
After launches at Switzerland’s Six, of exchange-traded products (ETPs) reflecting first a cryptocurrencies mix, then bitcoin, fund managing firm Amun now also has an ethereum proxy up and running.
While many nations, such as the US, still ponder permitting exchange-traded cryptocurrencies instruments, Swiss exchange Six appears to have taken something of a lead in the field.
Two others in latest half year
Ethereum was launced on the Swiss stock exhange on 5 March, under the ticker AETH, for Amun Ethereum, as noted by media including Ethereum World News.
Since earlier, the firm manages two Six-traded products tracking the price of cryptocurrencies. First out was a mix of the top five cryptocurrencies weighted by their total market capitalisation. This was launched 21 Nov 2018 as ”the world’s first crypto index exchange-traded product”, and is dominated by bitcoin, ethereum and Ripple currency XRP. Then a bitcoin-only equivalent was launched last month, 26 February.
Crypto exchange next
The products are under Swiss regulatory supervision, and backed up fully by held assets.
For its management, Amun charges a fee corresponding to 2.5 percent of the assets yearly.
Six has said it plans to launch its own cryptocurrencies marketplace later this year.