Amun expands crypto range to Germany

Hany Rashwan

Swiss crypto asset manager Amun has made its ETP range available to European investors by listing seven products in Germany.

The seven ETPs have been listed on the Boerse Stuttgart and are denominated in euros. Previously, the ETPs were listed in Switzerland and investors only had access to them in US dollars or Swiss francs.

For the first time, European investors can buy a basket of cryptocurrencies via the HODL crypto basket, giving them exposure to over 90% of the overall cryptocurrency market by market cap.

Leif Oesterwind, director of Lang & Schwarz, commented: “Since we are the official market maker for Amun on BX Swiss, it made completely sense to offer an admission to the popular Boerse Stuttgart and offer these innovative products in euros.”

Laurent Kssis, managing director of Amun, who joined the firm in October, added: “The listing of our products in Germany marks a significant step towards mainstream adoption of crypto assets for qualified and accredited European investors.”

As part of the move, Amun has launched a new ETP which uses the native cryptographic token of the Tezos blockchain as the underlying asset.

The Amun Tezos ETP (AXTZ) tracks the performance of the Tezos protocol, which is an open-source blockchain capable of modifying its own set of rules through its unique on-chain governance model.

Unlike bitcoin or ethereum, Tezos does not rely on mining but instead utilises a Proof of Stake based consensus mechanism according to which the blockchain is protected by validators who place deposits of the Tezos native asset and receive a reward for processing transactions.

Commenting on the launch, Hany Rashwan (pictured), CEO of Amun, said: “Some staking services initially began as being secluded to a specific blockchain. As newer networks have popped up, many of these services have diversified and now offer staking services for numerous blockchains.

“For the first time, institutions, as well as retail investors, can invest in the public blockchain, the Tezos network with a PoS concept and consensus mechanism via our ETP and participate in the associated rewards for contributing to the security and stability of the Tezos blockchain – without the need to ever have to set up a crypto wallet or taking care of a private key.”

Amun has unveiled a number of crypto ETPs in recent months including the launch of two products in October, the Amun Bitcoin Suisse BTC/ETH ETP (ABBA) which is made-up of approximately 90% bitcoin and 10% ether, and the Amun BNB ETP (ABNB).

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