The ETH exchange-traded product is now live at the SIX Stock Exchange. The trading of ETP backed by the company Amun AG, commenced yesterday, i.e, March 5. The launch comes one month after Swiss stock exchange SIX announced its intention to launch a blockchain-powered exchange during the second half of this year.
The ETP is backed by Swiss startup Amun AG, a company that claims to have launched “the world’s first listed crypto index product” in the form of the Amun Crypto Basket Index ETP (HODL). The HODL index is also traded on the SIX Swiss Exchange, with Flow Traders again providing liquidity for the market.
The HODL basket comprises an index of five leading cryptocurrencies. As of this writing, 49.39 per cent of the HODL basket is BTC, 27.2 per cent is XRP, 16.58 per cent is ETH, 3.87 per cent is LTC, and 2.96 per cent is BCH.
Since launching during the last week of November 2018, Amun reports that the HODL index has gained 1,113 per cent. On its first day of trading, the index generated $400,000 worth of trade.
The SIX CEO made a prior announcement of the launch of the SIX digital exchange driving on the distributed ledger technology later this year. It would proffer single step and quick transactions which otherwise might take days to finish.