SIX Swiss Exchange has received approval from Swiss regulators to list the world’s first multiple-cryptocurrency exchange-traded product, Amun Crypto ETP, according to a report from the Financial Times. The ETP will reportedly include five major cryptocurrency assets: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ripple.
Regulators had reportedly offered preliminary approval for the ETP in September, indicating that final approval was all but certain. Still, the news highlights Swiss regulators’ leadership in the crypto regulation space, since the Amun ETP is the first approved crypto-related exchange-traded product anywhere in the world.
Swiss efforts to create a crypto-friendly environment have helped to make it a more attractive home for companies like Amun. Company CEO Hany Rashwan praised Switzerland as the “best jurisdiction” to serve as the company’s base of operations and confirmed that Amun plans to continue to create new products for crypto investors. He also stressed that this ETP conforms to existing standards that all traditional ETPs are required to meet, and promised:
“Amun’s EUN will offer institutional investors limited to investing only in securities or will not want to establish custody for the exposure of digital assets to cryptocurrencies; it will also provide access to retail investors who currently do not have access to trade crypts due to local regulatory impediments.”