This time it will happen in Switzerland, according to sources cited by Financial Times.
The product is called Amun Crypto ETP, it will be traded on the Switzerland main stock exchange (SIX Swiss Exchange) and it will track an index based on the movements of 5 cryptocurrencies: Bitcoin, XRP, Ethereum, Bitcoin Cash and Litecoin.
As a curiosity, this is the first product of this type which will be linked to more than one crypto, the previous being linked solely to Bitcoin. And yet another interesting bit is the ticker, which will be "HODL", a name that is resonating quite a lot with crypto enthusiasts.
Please keep in mind that these products have been launched only in Europe so far (first one in Sweden) and they are not ETF (Exchange Traded Funds) but ETP (Exchange Traded Products). In the US, the SEC is yet to offer green line for more than 9 ETF requests that it previously rejected.
It's interesting to see what will come from this, especially looking at the latest developments in the "hashwar" drama.
Wherever I look these days I see more and more institutional money flowing into crypto. I give up wondering if this is a good thing or a bad thing, I just notice it.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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This is look like something that will give some power to the market, and we so need it...
Was just reading about this.
Amun is a London based fintech company and SIX Swiss Exchange is european’s largest equity exchange interms of capital flow.
I think we badly need institutional money at present just to gove cryptos a boost.
Im not sure if its the correct way though
More and more interesting companies, projects and products are entering the industry. It is just a clear sign that after the downtrend storm we will see a flourishing uptrend.
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I think these crypto market basket products will be good for prices. XLM gets no respect. I think XLM is often overlooked and EOS is overhyped.
Institutional money seem to prefer institutional cryptos also such as XRP which seems to grow steadily in price recently. If we're gonna have a bull run in the near future it's gonna be an interesting one and I have the hunch that Bitcoin is not going to be that hyped anymore. Some alts show that they have strong rockets mounted and lots of fuel to be burned. I am looking at XRP, XLM, BAT and hopefully Steem will follow also in the trend of cryptos decoupling from BTC trends.
crypto derivatives? is this really necessary?
mind boggling
Yeah, that's the part that I don't like as well...
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Great news my friend . I hope steem is back up quickly . Thanks for sharing @dragosroua
the market is really getting interesting this time around so many things are up even bakkt all set to enter