Swiss Stock Exchange SIX on Thursday announced the launch of a tezos (XTZ) token-based exchange-traded product (ETP), which allows investors to obtain the proceeds of the underlying asset XTZ token during the staking process.
The new ETP is being issued by the financial technology company Amun AG in cooperation with the Tezos Foundation. The stock code AXTZ, Amun will charge a 2.5% annual management fee.
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Hany Rashwan, co-founder and CEO of Amun AG, said:
“Investors buy a minimum of $20 for this stock. We carry out Bake/Stake on their behalf and return the proceeds to them as dividends. The investors themselves do not need to take any stakes.”
According to the announcement, the ETP's underlying asset Tezos token is hosted and taken by Coinbase.
The product is aimed at both retail and institutional investors. Investors do not need to set up an encrypted wallet, do not pay attention to the private key, or participate in the Tezos blockchain to contribute to the security and stability of the network.
So far, Amun AG has launched a total of nine cryptocurrency ETP products on the SIX exchange, including ETC based on BTC, ETH, XRP and BCH.
At the same time, Amun AG today launched seven ETP products on the Stuttgart Stock Exchange, the second largest stock exchange in Germany, in euros. Previously, investors could only purchase encrypted ETPs in US dollars and Swiss francs.
Laurent Kssis, Managing Director of Amun AG, said:
“For the first time, European investors can buy institutional-grade, low-cost cryptocurrency exchange-traded investment vehicles in euros.”
With the listing of these ETPs on the Stuttgart stock exchange, Amun AG now offers three currencies (Swiss franc, Euro and US dollar) on three stock exchanges (Stuttgart Stock Exchange, Swiss Stock Exchange and BX Swiss Exchange). 25 products denominated.