Amun AG ETPs will expand its operations in the EU
After the release of the crypto-based ETPs, Swiss start-up Amun AG announced it would release several cryptocurrency exchange-traded products, more popularly known as ETPs. However, the limited use of the product is only in Germany and Switzerland. As for further expansion of future usage countries, Amun AG will announce later.
Amun AG will offer ETPs in the EU
Amun AG received a green signal from regulators to expand into the European Union.
“The Board of Directors of the Swiss Issuer, AMUN AG is pleased to announce that the Finansinspektionen, the Swedish Financial Supervisory Authority (SFSA), has approved the Base Prospectus filed by AMUN AG.”
Amun AG President, Ophelia Snyder, expressed his extreme support for Sweden’s legal framework.
Ophelia Snyder, Amun AG President
Referring to the reasons behind the expansion decision, Snyder stated:
“We recognize that the regulatory framework in Sweden has been supportive of such initiatives, and we welcome its deliberation. The combination of strong demand for ETPs in Sweden – especially in crypto assets – among private investors and institutional clients and our strong expertise in these product categories creates ideal conditions for Amun’s entry into the Swedish and European Union markets for ETPs.”
Currently, the company focuses on providing a safe and cost-effective investment platform for its customers through cryptocurrency ETP. This process has been completed within four months of the consultation period.
Referring to the issue of global expansion, CEO Amun AG, Hany Rashwan, said:
“We’re on one continent; five more to go.”
Amun AG ETP-crypto: The first cryptocurrency ETP fund in the world
In November 2018, the leading Swiss Stock Exchange – SIX – announced the listing of the first Exchange Traded Product (ETP) for cryptocurrency in the world. Backed by the first global Amun ETP cryptocurrency fund will be listed with HODL. Amun currently offers nine cryptocurrency ETP products, including a Bitcoin-based ETP, an Ether-based ETP, and an XRP-based ETP. These are currently offered in Switerzland and Germany via SIX Swiss Exchange, BX Swiss, and Boerse Stuttgart.
According to Rashwan, the ETP portfolio is built to meet the rigorous standards of traditional ETP forms used by investors.
The CEO shared:
“The Amun ETP Foundation will bring investment institutions bound always to want to set up a custody unit dedicated to cryptocurrency. It also provides services to retail investors who cannot access to cryptocurrency exchanges because of regulatory hurdles.”
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