SIX Lists a BNB-Backed ETP Product

Swiss stock exchange SIX has listed yet another crypto exchange-traded fund (ETP), this time backed by Binance Coin (BNB).

The cryptocurrency exchange has partnered with Amun AG, a Swiss fintech firm, to develop the USD-denominated investment product.

Listed under the ticker symbol of ABNB, it is the eighth such crypto-focused instrument listed by the exchange.

In a statement, Binance’s CEO Changpeng Zhao said: “Our partnership with Amun in launching the BNB ETP will provide investors with a new and regulated asset class with a unique dimension to utility tokens, making them more accessible and reliable through a traditional financial infrastructure.”

“This will provide traditional investors access with diversified exposure and segue into the global cryptocurrency market and its innovative products.”

An array of crypto-based investment products

Amun is known to be working on crypto investment products and to date has listed seven ETPs in the Swiss exchange, the most recent one being a Swiss franc-denominated instrument backed by Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum.

ETP is a publicly listed investment product that can be traded like any other stock. However, the companies managing them are legally obliged to back the products on a one-to-one basis by reserves of the underlying assets.

According to Coindesk, the newly launched ETP will be initially backed by $20 million worth of BNB tokens - in contrast, the value of Amun’s entire portfolio is capped at $75 million.

Issued by Binance, BNB can be used in paying transaction fees in the exchange and its development and project marketing. With 2.9 billion in market cap, it is one of the top ten largest digital currencies available on the market today, according to Coinmarketcap.com.

Meanwhile, Binance recently listed an XRP-pegged digital currency on its decentralized platform Binance DEX, aiming to increase the market Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term of the crypto. It was issued on Binance Chain as a BEP2 token.