SIX, Switzerland’s largest stock exchange, has listed another crypto basket based on the Bitwise 10 Select Large Cap Crypto Index.
An exchange-traded product (ETP) in nature, it is launched by the Swiss fintech company Amun AG, and the product is dubbed Amun Bitwise Select 10 large cap crypto ETP.
Commenting on the listing, Hany Rashwan, co-founder and CEO of Amun, said: “Of all the existing crypto products currently listed globally, the Amun Bitwise Select 10 ETP is uniquely the most diversified listed crypto product.”
Bullish on crypto products
The partnership between SIX and Amun had already resulted in the listing of four other similar products on the exchange. Three of the products are based on Bitcoin, Ethereum, and Ripple respectively, while one is a crypto basket index, which was also the first crypto ETP product listed on the Swiss exchange and tracks top five digital assets on the market.
Contrary to the previous crypto basket, the newly listed product tracks the performance of up to 10 of the largest crypto assets based on their market capitalization, which are approved by the exchange. Per the announcement, as of May 31 rebalancing, the ETP includes eight crypto assets - Bitcoin (67.80 percent), Ethereum (11.50 percent), Ripple (8.33 percent), Bitcoin Cash (3.52 percent), Litecoin (3.47 percent), EOS (3.36 percent), Stellar (1.10 percent) and Cardano (0.90 percent).
The Swiss stock exchange is one of the few major exchanges which is investing heavily on crypto. Finance Magnates earlier reported that the exchange is developing its own cryptocurrency and already spent $20 million on its upcoming Blockchain -based Trading Platform . It is also reportedly working on a Swiss franc-pegged stablecoin.
“We are thrilled to be working with Amun to help investors gain diversified exposure to the most important crypto projects. The Index is carefully designed to capture a broad array of crypto assets while accounting for many of the unique constraints presented by the current cryptocurrency ecosystem,” Matt Hougan, global head of research for Bitwise Asset Management, added.
