Following the launch of its crypto ETP (HODL) back in November, Amun AG is narrowing its scope and has now listed a physically backed Bitcoin ETP (ABTC) in Switzerland.

The ABTC focuses on investing in Bitcoin on its own instead of the basket of coins which Amun's previous product does. Amun's objective is to improve the accessibility for investors to gain exposure to the crypto space. Once an investor buys the ETP, the capital from the investment is used to purchase the Bitcoin and is then held by a trusted custodian. This takes the fuss out of the investor's hands.

Physically backed ETPs are very limited due to the costs and risk of storing and transferring of the underlying product. That's why most physically backed ETPs are most commonly used for precious metals such as gold and silver. Offering a physically backed Bitcoin ETP improves the liquidity and offers the investor exposure to the digital asset without being concerned about the custody of the coin.

Amun has said more crypto ETPs are likely to launch in the future as well as new geographies. With the newly launched ETP and a new filing from VanEck for a Bitcoin ETF in the US, the crypto space is becoming increasingly more active again.

It's been a long and difficult year for crypto assets with the price of Bitcoin falling over 80% since its $20,000 peak at the end of 2018. The price of the coin as of today is sitting just over $3,800. A lot of regions are waiting for the US to make the first move with a Bitcoin ETF before approving their own ETF filings.