Tezos-based ETP launched in Switzerland

•  Swiss stock exchange to list a Tezos-based exchange-traded product.
• The ETP has been launched by cryptocurrency company  Amun AG.

The largest Swiss stock exchange  SIX listed an exchange-traded product (ETP) based on Tezos (XTZ).  The ETP is launched by Amun AG, while custodial services are provided by Coinbase Custody.

“On the busiest single day in our history, we’re delighted to announce: We’ve launched the world’s first Tezos ETP (AXTZ). We’ve admitted to trading seven of our ETPs on @boersestuttgart, denominated in euros. We’ve admitted listing six of our ETPs on @bx_swiss, denominated in CHF,” AmunAG announced on Twitter.

According to Hany Rashwan, CEO Amun AG, this is the first product that allows investors earning revenue from stacking.  

The company participates in the baking of new XTZ coins on behalf of the customers and pay them dividends. Also, Amun charges an annual fee for asset management in the amount of 2.5%. The product is available both for institutional and retail investors.  

“Investors will be able to buy a stock for as low as $20 and we bake/stake on their behalf and return it to them as a dividend without them required to do any staking on their own,” Hany Rashwan commented in the interview with The Block.

Tezos-based ETP listed under ticker AXTZ  is the ninth cryptocurrency product of Amun added to SIX. The others include ETPs based on bitcoin,  RP, Bitcoin Cash, Ethereum, Binance Coin.