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First multi cryptocurrency ETP launched in Switzerland

Swiss_exchange SIXThe world’s first cryptocurrency exchange-traded product (ETP) to track multiple cryptocurrencies has launched on Switzerland’s principal stock exchange.

The Amun Crypto Basket ETP, developed by Swiss fintech firm Amun, began trading on Zurich’s Six exchange today.

The ETP’s assets will be divided between the four largest cryptocurrencies calculated on the basis of market capitalisation: bitcoin, ethereum ether, ripple and litecoin.

The annual management fee for the ETP has been set at 2.5%.

The launch follows a week in which the value of bitcoin plummeted to US$4,300 (€3,767), down from an all-time high of $20,000 last December.

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