The worlds first Cryptocurrency ETF is opening next week on the Swiss Exchange SIX

Amun AG, a cryptocurrency startup is behind the launch

There are plans to introduce more cryptocurrency products to more stock markets soon

The worlds first crypto Exchange Traded Product (ETP) is coming in the form of a fund (ETF). It will begin trading next week to Switzerland based SIX, the fourth-largest exchange in Europe with a market capitalization of $1.6 trillion.

Basket fund

The fund is being offered by Amun AG, a Cryptocurrency startup which will be listing an index fund on the exchange. Hany Rashwan, co-founder and chief executive of Amun said:

“The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulatory impediments.”

The fund will allow traditional investors to hold a basket of some of the largest cryptocurrencies. It includes Bitcoin, Ripple, and Ethereum, as well as Bitcoin Cash (the ABC chain) and Litecoin.

The decision to offer the ETF in Switzerland is not arbitrary. According to a statement by Hany:

“After exploring this across 23 different exchanges and territories around the world, we settled on Switzerland.”

He also stated that after the fund launches, more products will follow including ones in other regions of the world.

Buy the market

The ETF will allow investors to ‘buy the market’ and invest in the cryptocurrency market as a whole rather than specific currencies, though that will soon be available as well.

When customers invest in the fund, an amount of crypto equivalent to their investment is purchased and held by a custodian on their behalf.

The ETP will be listed under the name HOLD.