According to reports which have been emerging, the most popular stock exchange six in Switzerland has released the very first multi crypto exchange-traded product. It is expected to hit the market by the beginning of next week.
This ETP which would be released would be backed by Amun AG and is expected to provide coverage for six of the greatest and most popular cryptocurrencies today. These would naturally include Bitcoin which is also known as BTC, bitcoin cash, Ripple, litecoin and Ethereum. It is believed that the digital currencies which would be listed would attain a market share with the new ETP which would be created. However, it of the market share which is to be shared among the cryptocurrencies, it is widely expected that bitcoin would acquire more than half of the assets. The remaining portion or market shares are expected to be shared in little quantities among the other digital currencies.
Hany Rashwan who is head of Amun asserted that the new ETP which would be formed would comply with all the rules and policies which has been set by other ETPs which have formed this new multi crypto ETP is set to provide investors with the chance of trading effectively with the digital currencies freely and efficiently. The index which would be handled by the Amun company is set to be handled by Van Eck which is an investment management company. It is believed that this investment management company is actually a part of the Amun technologies. It is believed that this company has earlier announced their intention to form an ETP right from September.
It is believed that Amun is currently considered to be one of the top stock exchange in Europe as a whole. This is due to their $1.6 trillion valuation which is sure to keep them among the best at all times. There have also been various suggestion that trade exchanges would go all digital in the next ten years. This would be achieved due to the various technological advancements which have been made on the blockchain technology in recent years. This change is supposedly going to be a positive change among the various parties involved. These parties would no doubt include bankers, investors and so much more. It remains to be seen just how successful this ETP would be in the coming years.
