The crypto world has been waiting with bated breath for U.S. regulators to approve an exchange-traded fund or product. While it is unclear when such a product will come to the U.S., it is clear that one will be trading on Switzerland’s Six exchange next week, as per a report by Chris Flood at the Financial Times. The so-called Amun Crypto ETP is designed to track an index based on 5 cryptos, including XRP, bitcoin cash, ethereum, litecoin, and bitcoin. “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 regulatory impediments,” cofounder Hany Rashwan said. Jane Street and Flow traders are two market making firms that have provided seeding for the upstart venture, according to Flood. It’ll trade under the ticker Hodl. (Financial Times)
Reporting by Frank Chaparro in Pennsylvania.