Crypto asset manager Bitwise has partnered with Swiss fintech startup Amun AG to launch another multi-crypto-based exchange-traded product (ETP), according to a press release on June 26.

Bitwise’s index calculation subsidiary, Bitwise Index Services, has licensed “The Bitwise 10 Select Large Cap Crypto Index” to Amun AG to bring a diversified crypto ETP, the announcement says.

The index will act as the benchmark index for an ETP product called “Amun Bitwise Select 10 Large Cap Crypto Index ETP” operating under the ticker symbol KEYS, according to a report by crypto media outlet The Block.

The new ETP product will reportedly trade on Switzerland's principal stock exchange SIX Swiss Exchange, and will be only accessible by investors residing outside the United States, the press release notes.

The Bitwise 10 Select Large Cap Crypto Index allows to track the performance of up to 10 of top global crypto assets by “free-float and inflation-adjusted market capitalization,” Bitwise wrote in the press release, adding that the index is rebalanced and reconstituted on a monthly basis.

As such, as of the May 31 rebalance, the index included eight cryptocurrencies such as bitcoin (BTC), ether (ETH), XRP, bitcoin cash (BCH), litecoin (LTC), EOS, stellar (XLM), and cardano (ADA). At the time, bitcoin was evaluated at the “weight” of 67.8%, while ether was weighted at 11.5%.

The Bitwise 10 Select Large Cap Crypto Index as of May 31 rebalance. Source: PR Newswire

Matt Hougan, Global Head of Research at Bitwise, said that the new initiative is an attempt to assist non-U.S. investors in obtaining “diversified exposure to the crypto markets.” He added that the index is designed for Swiss investors who “want to be sure they gain and maintain exposure to the most important crypto projects in the world.”

To date, SIX exchange has listed four crypto ETPs by Amun AG, including bitcoin ETP (ABTC), ethereum ETP (AETH), XRP ETP (AXRP), as well as its multi-crypto-based ETP Crypto Basket Index ETP (HODL), according to SIX’s official website.

Launched in April 2019, AXRP is the second biggest ETP by daily trading volume of about 440,000 Swiss francs ($450,000), following Invesco Physical Gold ETC, according to data provided by SIX.