Institutions are Bullish on BNB-Backed ETP, Amun Claims

Amun, a Swiss crypto investment product provider, has revealed growing institutional demand for its exchange-traded product (ETP) tied with Binance Coin (BNB).

The Swiss company developed a BNB-backed ETP and listed it on SIX, a Swiss Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term, in October. The company operates and listed multiple such crypto-backed investment products on the stock exchange, the latest being one backed by Tezos.

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Binance launched its native token in 2017 as an ERC-20 token, which later moved to its own Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term, Binance Chain. In Binance’s ecosystem, the token has extensive usage - the traders holding the token can receive discounts, and it is crucial for investors on projects launched at Binance Launchpad.

The Malta-registered exchange is also determined to control the circulation of the token and vowed to reduce its supply eventually to attract institutions.

“Historically one of BNB's value propositions has been the token burn, where Binance would burn a given amount of BNB equal to 20% of their quarterly profits,” Laurent Kssis, managing director and head of ETFs at Amun, told Coindesk.

Amun is also conducting a European roadshow in London, Zurich, Milan, and Scandinavia, which saw an extreme enthusiasm from the institutions with the participation of 30 institutional investors.

“[These are] qualified investors who may have a mandate to allow exposure to crypto as part of a much broader portfolio of assets,” Kssis said.

With the reputation of Binance, BNB also gained the attention of the retail traders. The coin reached its peak in June this year when a single BNB token was traded for over $36. However, the bull didn’t last long as the price slumped 58 percent from the peak with the current trading value at $15, according to Coinmarket.com.