The crypto haven that is Switzerland has had another cryptocurrency ETP listed on its exchange. Amun AG has listed the first Bitcoin Cash ETP (ABCH) on the Six Swiss Stock Exchange with an ongoing charge of 2.5%.
Offering exposure to Bitcoin Cash (BCH), ABCH’s high fee is a result of the ETP being fully collateralised as well as custody and insurance with a trusted custodian. The launch of the ETP was made possible from a 25,000 BCH seed funding, worth nearly $10m, from Roger Ver, CEO of Bitcoin Cash.
Ver is a firm believer that Bitcoin Cash is a game changer for the crypto ecosystem and hopes his early investment will set an example to drive more investors to join the growing community.
This is the sixth product Amun has launched having listed its last ETP, the Amun Bitwise Crypto Select 10 ETP, at the end of June. Amun also offer ETPs with exposure to Bitcoin, Ethereum, Ripple and a basket of cryptocurrencies.
Bitcoin Cash, like the rest of the digital asset market, has bounced back from its underwhelming 2018. Year-to-date, BCH’s value has risen 147.5%, sitting just above $400.
Hany Rashwan, Amun co-founder and CEO, said in a statement: “We are delivering our strategy, which is to provide investors with the wider product suite in the crypto-assets space, easily available on one of the most reputable market place, the Swiss exchange. Thanks to this product, investors can now easily add Bitcoin Cash to their portfolio.”