Another crypto step forward: Switzerland approves the first cryptocurrency ETP

Another crypto step forward: Switzerland approves the first cryptocurrency ETP

Switzerland approved the world’s first exchanged traded product that would operate multiple cryptocurrencies like Bitcoin, Ethereum, Litecoin or the recently polemic Bitcoin Cash versions.

Amun Crypto basket index will provide services for independent and institutional analyst as well as investors that want to trade crypto assets but are restricted to other products. “Amun Crypto Basket Index (HODL5) aims to track the financial performance of the top and most liquid crypto assets, weighing them based on 2050 market cap and re-balancing monthly to ensure an accurate representation of the current crypto market,” says Amun’s website.

The index will track the performance of the top five crypto assets concerning liquidity, as well as it is providing diversification and weighted exposure to the crypto space. The index aims to manage volatility in the crypto market.

Bitcoin will weight 48.69% of the index, while Ethereum will have 17.60% of the allocation, Ripple will represent 25.72%, Bitcoin Cash will have 5.11%, and Litecoin 2.88%.

Co-founder and CEO of Amun Any Rashwan affirmed that “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.”

Bitcoin Cash update pushes cryptos in a civil war, Kraken raises red flags

San Francisco based cryptocurrency exchange Kraken released a client’s note saying that “Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high-risk investment.”

The new Bitcoin SV (BCH SV) is one of two versions created in last week Bitcoin Cash hard fork upgrade. According to Kraken, BCH SV will be openly hostile toward other blockchains.

Kraken also said that reasons for the red flags are that no known wallets are supporting replay protection, no support in major block explorers and that miners are operating at a loss. Kraken affirmed that “chain’s survival may be mutually exclusive with other chains.”

Bitcoin Cash update created two new tokens, the Bitcoin Cash ABC and the Bitcoin Cash SV. The ABC version was ahead of the SV unit in term of proof of work according to CEO Roger Ver. However, he said that in his opinion, he really doesn’t know “the real after effects of the fork. It can be both good and bad for the entire community. It is just like the Y2K scare, you know. Everyone expected planes to fall out of the sky but in the end, nothing much happened.”

Recently Similar News

cex-promotion exmo-promotion

Latest Guides

Latest News


For a Limited Time, You Can Get a Personalised CoolWallet S

Fancy getting yourself a Coolwallet with a personal touch? Then head over to  CoolWallet now and get yourself a customised wallet for you to store your crypto with your name on it. These new customised CoolWallet S cards are offered in a bid to make cryptocurrency investment more attractive to their users. And of course, […]

15 September, 2019

Another 2nd Anniversary Promo Announced at KuCoin, KuMEX FOMO

KuCoin is celebrating their 2nd anniversary and to celebrate they have detailed several new promotions, but it seems they aren’t over yet, with one more outlined for KuMEX FOMO. Earlier this week, we detailed 5 different promotions that will take place over the next 2 weeks, but now there is more which you can get […]

14 September, 2019
Coinbase,Coinbase PRo,Dash,Listings

Dash Set For Monday Coinbase Pro Listing

One of the most popular trading options in the crypto world, Dash, will go live for trading on Coinbase Pro from Monday, 16th September. While official trading will begin the following day at 9 am (PST) on Tuesday, 17th September, users will be able to begin depositing Dash to their Coinbase Pro accounts up to twelve hours […]

14 September, 2019
Exchange Platforms,Kraken,Listings,Tokens

ICX Now Available On Kraken

Kraken has unveiled the latest asset available for trading on their platform, ICX. The San Francisco-based outfit commenced trading for this new token, which was created by the South Korean blockchain project, ICON, yesterday, 12/09/2019.  However, ICON itself is no newbie to industry and in fact, is one of the oldest and largest blockchain ins […]

13 September, 2019
Binance USA,Launch,Updates,USA

Binance USA Opens Its Doors Next Week

The much-anticipated US trader targeted platform from Binance, Binance USA, will begin opening its door to traders from next week. The news has come at the perfect time for US traders who had previously been going about their day to day trading activity on the generic international Binance platform. This is because after Binance updated […]

12 September, 2019
Closure,Exchange Platforms,Updates

Ethfinex Reveal Further Details on Closure

Last month, Ethinex revealed that they would be shutting up shop in their existing format and rebranding as DeversiFi. While the transition period is on-going, they have detailed some important information about the final closure of their existing operational format. The first point of note in regards to this is the fact that a date […]

11 September, 2019
Exchange Platforms,Giveaway,KuCoin,Promotion

KuCoin Offer 2nd Anniversary Promotions Worth $450,000 to Users

KuCoin are about to celebrate their second anniversary and they want to thanks users with a flurry of new promotions offered on a number of crypto assets over the next two weeks. These new promotions cover a wide range of different trading options, eligibility requests and time limits. With this in mind, they should be enticing to a wide number […]

10 September, 2019
CEO,Exchange Platforms,localbitcoins

LocalBitcoins Name New CEO

Peer-to-peer trading platform, LocalBitcoins has had a shake around in boardroom, with Sebastian Sonntag being named as the new CEO. He will be taking over the reins from Nikolaus Kangas, who is the brother of Jeremias Kangas who founded the exchange platform back in 2012, after being “convinced of Bitcoin’s importance in a global economy”. […]

9 September, 2019