While many wonder when the Bitcoin ETF will become a reality, the Swiss fintech company Amun AG does not waste any time in disrupting the crypto exchange traded products (ETP). The company listed the world’s very first Bitcoin Cash ETP with ticker sign ABCH on the SIX Swiss Exchange on July 5th, 2019. Roger Ver is seeding the ETP with $9.9m, equivalent to 25,000 Bitcoin Cash coins as of Friday. The news comes from London Loves Business.
This is what Mr. Ver said about Amun and the ETP:
Bitcoin Cash is becoming a game changer in the crypto ecosystem and beyond, and Amun will help solidify its global adoption. We are confident that our investment in the new Amun BCH ETP will set the example and drive more investors to join the growing community which believes in the success of Bitcoin Cash.
The SIX Swiss Exchange is the 4thlargest stock exchange in Europe with market cap of $1.6 trillion. Roger Ver is one of the biggest names in the bitcoin world. He is one of the most ardent supporters of the “people’s currency”. Now, he is vouching for Bitcoin Cash in the same manner.
According to London Loves Business, this is what the CEO and Co-Founder of Amun said:
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 (BCH) to their portfolio.
This is a huge step in promoting the crypto exchange traded products.