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The first cryptocurrency exchange-traded product (ETP) in the word will be listed on the Swiss Exchange during the next week. The information was released by Trustnodes a few days ago. The SIX Swiss Exchange is the fourth largest in Europe with a market capitalization of $1.6 trillion dollars.

SIX Swiss Exchange to list the First Crypto ETP

The cryptocurrency community is very enthusiastic about the launching of the first crypto ETP of its kind in the world. The crypto startup Amun AG received approval to list an index fund on the Swiss Stock Exchange, one of the largest in Europe.

Hany Rashwan, co-founder and chief executive of the company, commented on the matter:

“The Amun ETP will give institutional investors that are restricted to investing only in securities or do not want to set up custody for digital assets exposure to cryptocurrencies. It will also provide access for retail investors that currently have no access to crypto exchanges due to local regulation impediments.”

This ETP would allow investors and institutions to play an important role in the virtual currency market. Wealthy investors that were not able to enter the market in the current conditions and with the current platforms they would be able to do it through a traditional and regulated stock market.

The fund will be tracking the most valuable virtual currencies in terms of market capitalization. The funds will be allocated taking into account each of the assets’ valuation. Bitcoin currently has a market dominance of over 52.5%. XRP, and ETH have 11.18% and 9.79% market share each of them.

Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and XRP will be the cryptocurrencies supported by this fund.

“After exploring this across 23 different exchanges and territories around the world, we settled on Switzerland,” said Hany Rashwan. “We believe Switzerland to be the best jurisdiction for our base and intend, after launching our initial products on the SIX Swiss Exchange, to both launch additional products as well as dual-list across additional geographies and stock exchanges.”

In the near future, the U.S. Securities and Exchange Commission (SEC) would be deciding whether to approve the first Bitcoin ETF in the world presented by VanEck. The whole virtual currency community is expecting this to happen at the beginning of 2019. If the SEC approves this ETF, the market is expected to receive an important number of new traditional and institutional investors.

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