The Swiss crypto assets custodian Bitcoin Suisse and Amun have partnered to launch the first Swiss-all Crypto ETP. Amun Bitcoin Suisse BTC/ETH ETP (ticker ABBA) is the first CHF denominated crypto ETP listed on SIX exchange, enabling Swiss investors to add a basket of bitcoin and ether to their portfolio, using their conventional brokers/banks. Bitcoin Suisse announced this in a press release on October 3rd.
Crypto investments via traditional stock exchange market
The so-called „Amun Bitcoin Suisse BTC/ETH ETP“(ABBA) represents the value of Bitcoins held by Bitcoin Suisse with a share of 90 percent and Ether with a share of 10 percent. The crypto currencies are stored in the so-called Bitcoin Suisse Vault, a crypto storage solution for institutions with particularly high security. This physically-backed ETP is fully collateralized, which means that for every bitcoin and ether bought for the ETP, there will be an equal, corresponding crypto amount stored securely in the Bitcoin Suisse Vault. The ETP is issued by a Swiss company, custodied in Switzerland and traded on the Swiss stock exchange. The national currency, the Swiss franc, serves as the billing unit.
Lothar Cerjak, Head Institutional Services & Products Bitcoin Suisse says: „We are pleased to launch our first exchange-traded product, which is part of our ever-growing service offering. Together with Amun, we share a strong desire to open up new opportunities in crypto financing and build with the highest standard of technology and service that Bitcoin Suisse has offered since 2013.“
Crypto certificates – an alternative investment
Bitcoin Suisse is one of the most established crypto companies in Switzerland. In April, Bitcoin Suisse together with Bank Frick already issued a so-called tracker certificate for Bitcoin (BTC) and Ethereum (ETH). To expand its product range, the Swiss applied for a banking license in July of this year.
Source: Bitcoin Suisse press release