Switzerland Approves First Bitcoin-Cryptocurrency ETF with Ticker $HODL

Neutral Switzerland Approves First Bitcoin-Cryptocurrency ETF with Ticker $HODL

Bitcoin Investment

The Bitcoin ETF $HODL, offered by Amun Crypto, will begin trading on Switzerland's Six Swiss Exchange beginning next week. The ETF's earnings will be linked to five different cryptocurrencies.

The ETF is being offered by Amun Crypto, a U.K. based fintech company. It will begin trading on Six Swiss Exchange next week. Six is Switzerland's chief stock exchange, as well as the fourth largest in Europe.

According to the Financial Times, the ETF "[...] has been designed to track an index based on the movements of five leading cryptocurrencies."

Roughly half (48%) of the ETF's assets will be invested in Bitcoin (BTC) . The rest will be put towards bitcoin cash, XRP (30%), ethereum, and litecoin.

New Kid On the Block

Financial Times ' writer Matt Flood notes that the ETF has been crafted in close accordance with the standards expected from traditional exchange-traded funds. This is according Hany Rashwan, Amun's top executive.

Rashwan describes the aims of the ETF:

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

The Times reports that while competitors like CoinShares and Grayscale exist, they differ in legal form, whilst only being linked to one cryptocurrency. Seeding for the ETF will be fostered by Jane Street and Flow Traders, and it will trade using the ticker $HODL.

The Financial Times highlights the ETF's arrival amid the lowest drop in BTC price in over a year. The ETF is has been particularly the source of much hype in the cryptocurrency space. An exchange-traded fund product is expected to facilitate institutional buying of bitcoin.

Michael Said..
ETF Switzerland is approved, and will start trading next week, uhmm bull run is coming soon baby, buy now or you will Pay bitcoin with money more.. :*#indodax #bitcoin #cryptocurrency #CryptoExchange #crypto #cryptonews #investor pic.twitter.com/OY8TfMgVOj

- Bos Crypto (@boscryptocnn) November 18, 2018

Switzerland seems to be perpetually fixed in the crypto news cycle whether its happenings in Crypto Valley or the present ETF. Progress seems to abound.

In October, Bitcoinist reported on Crypto AG's recently-granted cryptocurrency asset management license. A month earlier, Bitcoinist also wrote on Switzerland's status as a top global Bitcoin destination.

What are your thoughts on the Bitcoin ETF $HODL? Share your thoughts below! Images and media courtesy of Shutterstock, Twitter (@boscryptocnn, @MANT121266), YouTube (ThinkCrypto).

11/18/2018 / 10:00:42 Source: bitcoinist

BTC
1 BTC=$3,969.08
XRP
1 XRP=$0.3239
ETH
1 ETH=$148.68
EOS
1 EOS=$3.92
BCH
1 BCH=$143.13
XUC
1 XUC=$2.53

News Feed 50

Ccn Neutral - Vanguard CIO Greg Davis Just Issued a Dire Warning for the US Stock Market read more.
02/12/2019 / 20:32:35
Bitcoin.Com Neutral - Two US Public Pension Funds Back New $40 Million Crypto VC read more.
02/12/2019 / 20:32:33
Ambcrypto Neutral - Bitcoin SV’s [BSV] Craig Wright hits back at WikiLeaks as Twitter feud escalates read more.
02/12/2019 / 20:30:20
Cointelegraph Neutral - Top 20 Cryptos Make Small Gains While Stock Futures and Oil Indexes See Green read more.
02/12/2019 / 20:29:00
Cointelegraph Neutral - Japanese IT Giant GMO Confirms Launch of Yen-Backed Stablecoin GYEN in 2019 read more.
02/12/2019 / 20:22:00
Cryptobriefing Neutral - Blockchain Advances In Africa, Overcoming Funding Hurdles read more.
02/12/2019 / 20:03:52
Newsbtc Neutral - Police Mistake Crypto Mining Rigs For Drug Den in Raid Gone Wrong read more.
02/12/2019 / 20:01:30
Dailyhodl Neutral - Bitcoin Lightning Torch Hits Tron CEO Justin Sun – Will Kobe Bryant Grab the Crypto Bounty Next? read more.
02/12/2019 / 19:58:54
Ccn Neutral - Exclusive: Bitcoin Cash Developer Amaury Sechet Comes Clean on Satoshi Claims read more.
02/12/2019 / 19:53:47
Cointelegraph Neutral - China: New Guidance to Implement Blockchain in Agriculture Finance Sector read more.
02/12/2019 / 19:51:00
Ambcrypto Neutral - #XRP/USD Price Analysis: Coin could soon go for a bullish ride read more.
02/12/2019 / 19:30:38
Cryptoslate Neutral - Morgan Creek’s Venture Fund Raised $40 Million to Invest in Blockchain and Cryptocurrency read more.
02/12/2019 / 19:30:19
Cryptobriefing Neutral - Western Union Acknowledges Experiments With Ripple Tech read more.
02/12/2019 / 19:14:03
Trustnodes Neutral - Former Prime Minister Bigs Up Bitcoin Amid Power Struggle in Bangkok read more.
02/12/2019 / 19:13:38
Newsbtc Neutral - XRP and Ripple Stand to Benefit if the World Bank and McKinsey Projections are True read more.
02/12/2019 / 19:00:56
Bitcoinist Neutral - Santander Bank Ordered to Keep Brazilian Bitcoin Exchange Account Open read more.
02/12/2019 / 19:00:47
Ambcrypto Neutral - Cryptocurrency News – 12th Feb – Ripple partner raises $1.7M, Coingate adds LTC LN support and more read more.
02/12/2019 / 19:00:32
Cryptoglobe Neutral - 'It's Virtually Certain': Bitcoin ETF Will Be Approved, Prominent Analyst Argues read more.
02/12/2019 / 18:50:00
Ccn Neutral - This US Senator Wants to Legalize Weed, Should Investors Get High on Pot Stocks? read more.
02/12/2019 / 18:30:33
Ambcrypto Neutral - Bitcoin [BTC] volatility works to investors’ advantage, says Financial advisor read more.
02/12/2019 / 18:30:05
Coinspeaker Neutral - SEC to Clarify ‘Overly Broad’ Regulation for Crypto Token Sales read more.
02/12/2019 / 18:30:02
Cryptobriefing Neutral - Pensions Count On Bitcoin Eggs For Retirement read more.
02/12/2019 / 18:24:55
Bitcoin.Com Neutral - Crypto Broker Voyager Digital Lists on Canada’s TSX Venture Exchange read more.
02/12/2019 / 18:21:57
Coingape Neutral - BitMEX Research On Next Global Crisis: Retail Banking & Payment System Unlikely to be Under Threat read more.
02/12/2019 / 18:21:13
Cryptopotato Neutral - Crypto Market Update Feb.12: Bitcoin Dominance Declines as Altcoins Skyrocket read more.
02/12/2019 / 18:15:52
Ethereumworldnews Neutral - EOS (EOS) Price Initiating Break Above the Daily Range Bound read more.
02/12/2019 / 18:11:41
Cryptoslate Neutral - Ripple Grants $2 Million to University of Kansas, Funds 29 Universities to Conduct Blockchain and Crypto Research read more.
02/12/2019 / 18:08:54
Cointelegraph Neutral - Mt. Gox Trustee May Have Crashed Bitcoin in 2018 by Dumping It on an Exchange, but There is Still Hope read more.
02/12/2019 / 18:08:00
Cryptonewsreview Neutral - Australian police mistake crypto mining rig for suspected pot farm read more.
02/12/2019 / 18:03:55
Newsbtc Neutral - Are TRX Prices Dumping Because “Changpeng Zhao and Justin Sun are Scheming”? read more.
02/12/2019 / 18:00:58
Ambcrypto Neutral - Cryptocurrency-hijacking malware ‘Clipper’ discovered on Google’s Play Store read more.
02/12/2019 / 18:00:16
Ccn Neutral - Gaming Giant Activision Blizzard Stock Could Get Crushed [Again] Tonight read more.
02/12/2019 / 17:59:00
Cryptopotato Neutral - #Weekly Price Analysis Overview Feb.12: Bitcoin, Ethereum, Ripple, Dash and Monero read more.
02/12/2019 / 17:58:39
Bitcoinmagazine Neutral - Morgan Creek Bags $40M Raise, Attracts Industry First Funding From Pensions read more.
02/12/2019 / 17:51:05
Cointelegraph Neutral - Software Giant Oracle Expands Its Enterprise Blockchain Platform read more.
02/12/2019 / 17:50:00
Cryptonewsreview Neutral - Firefox to offer cryptomining blocking in May release read more.
02/12/2019 / 17:36:48
Livebitcoinnews Neutral - Ethereum (ETH) Up 3 Pct at $120, as Bitcoin (BTC) Rallies 5 Pct at $3,600, Litecoin Also Poised to Rise read more.
02/12/2019 / 17:36:29
Cointelegraph Neutral - Payment Processor Netpay to Integrate Blockchain-Based Tool: Report read more.
02/12/2019 / 17:32:00
Ambcrypto Neutral - Tron [TRX/USD] Technical Analysis: Cryptocurrency succumbs to the bear again as prices stagnate read more.
02/12/2019 / 17:30:21
Ethnews.Com Neutral - Distributed Digest: Tuesday, February 12, 2019 read more.
02/12/2019 / 17:30:12
Dailyhodl Neutral - Payments Giant Western Union Preparing for Crypto, Tests Ripple and XRP read more.
02/12/2019 / 17:20:41
Cryptoglobe Neutral - Cryptocurrency Analysis Firm Chainalysis Raises $30 Million read more.
02/12/2019 / 17:20:00
Ccn Neutral - Did TRON Acquire a Liability in $126 Million Purchase of BitTorrent? A Record 3,300 Lawsuits Hit Platform’s Users read more.
02/12/2019 / 17:16:51
Ambcrypto Neutral - Bitcoin [BTC]: WikiLeaks provides evidence debunking Craig Wright’s claim to be Satoshi Nakamoto read more.
02/12/2019 / 17:15:47
Ccn Neutral - Why Asset Manager Canaccord Says Tesla Stock Will Explode by 40% in 2019 read more.
02/12/2019 / 17:15:08
Cryptobriefing Neutral - Bitcoin Cash / USD Technical Analysis: Still Going Down read more.
02/12/2019 / 17:02:39
Ambcrypto Neutral - Ripple’s CTO clarifies that Interledger Protocol [ILP] is not connected to the RippleNet yet read more.
02/12/2019 / 17:00:29
Bitcoinist Neutral - Binance Chain Decentralize Exchange Testnet Will Launch Next Week read more.
02/12/2019 / 17:00:06
Coindesk Neutral - Co-Founder Quits Avalon Mining Chip Maker Canaan Over ‘Differences’ read more.
02/12/2019 / 17:00:06
Newsbtc Neutral - Bitmain S15 Firmware “Very Buggy”, Will This Claim Affect BTC Prices? read more.
02/12/2019 / 16:58:38
Negative
3.2%
Neutral
96.0%
Positive
0.8%
Mixed
0%

Latest comments: