Switzerland announces launch of its first Bitcoin ETF

Switzerland announces launch of its first Bitcoin ETF

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Answer Switzerland announces launch of its first Bitcoin ETF

Switzerland has given the green light to list and launch the world’s first Bitcoin Index (ETP) trading fund. Furthermore, trading in the Bitcoin ETF (ETP) will begin on the SIX Swiss exchange.

It is worth noting that this stock exchange is the fourth largest in Europe. The SIX Swiss platform boasts a market capitalization of $1.6 trillion.

More on the world’s first Bitcoin Index ETP (ETP)

Amon AG, a company operating in Switzerland – a crypto-friendly country – will list an ETP. This will be one of those rare times of the year when modern technology is sharing the field with the traditional method. Amon AG obtained permission to list its Index Fund on the stock exchange.

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This is what Hani Rashwan, co-founder and CEO of Amon AG said: “Amon AG’s Bitcoin ETF will give institutional investors the opportunity to learn about crypto transactions. Institutional investing is limited to investing only in securities or does not want to create an institution to hold digital assets. It will also provide access to individual investors. who may not currently be able to access cryptocurrency exchanges due to local regulatory obstacles.”

  • Learn about the advantages of the Bitcoin ETF

Crypto institutions track major cryptocurrencies and tokens of digital assets by market cap. Moreover, according to reports, the assets are allocated to cryptocurrency. More than half of its assets are in Bitcoin [BTC] while nearly 30% on Ripple currency [XRP] growing. “After exploring this across 23 different trading platforms and regions around the world, we settled on Switzerland,” Rashwan stated.

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The fund is automatically allocated according to its market share. Rashwan said, “We believe that Switzerland is the best center for our base, and after launching our initial product through the SIX Swiss Exchange, we intend to seek to launch additional products in addition to a double listing across additional geographies and exchanges.”

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