Swiss Stock Exchange Lists Ethereum Based ETP

in #bitcoin • 5 years ago

image.png

Switzerland's principal stock exchange, SIX Swiss Exchange listed Ether as an exchange traded product (ETP). A few days earlier the same stock exchange listed Bitcoin for trading.

An exchange traded product is a commodity that is backed by a cryptocurrency or something that has value. The exchange will charge an annual fee of 2.5% to traders. This exchange has a market cap of 1.6 trillion dollars.

The ETP is maintained by Amun AG. Learn more about ETP's on their official website:
https://www.amun.com/en/products/hodl

#ethereum #crypto #cryptocurrency #busy
5 years ago in #bitcoin by
$22.34
  • Past Payouts $22.34, 0.00 TRX
  • - Author $16.47, 0.00 TRX
  • - Curators $5.87, 0.00 TRX
46 votes
Reply 4
Sort:  
  • Trending
    • [-]
     5 years ago 

    Cool news, so are the ETP "physically" backed by crypto or does it just follow the price? I assume the latter.

    $0.00
      Reply
      [-]
       5 years ago 

      It's like tether or TUSD. Not sure how the pricing works though.

      Collateralization: Amun holds the underlying crypto assets in cold storage equal to 100% of the value of the notes at all times.

      [-]
       5 years ago (edited)

      Like tether you say? So the exchange claims that it's fully backed, but in reality it's backed by just thin air at best? ;-)

      $0.00
        Reply
        [-]
         5 years ago 

        Hi @littleboy!

        Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
        Your UA account score is currently 4.142 which ranks you at #3206 across all Steem accounts.
        Your rank has dropped 2 places in the last three days (old rank 3204).

        In our last Algorithmic Curation Round, consisting of 239 contributions, your post is ranked at #185.

        Evaluation of your UA score:
        • Some people are already following you, keep going!
        • The readers like your work!
        • Try to work on user engagement: the more people that interact with you via the comments, the higher your UA score!

        Feel free to join our @steem-ua Discord server

        $0.00
          Reply

          Coin Marketplace

          STEEM 0.26
          TRX 0.11
          JST 0.033
          BTC 63746.34
          ETH 3048.25
          USDT 1.00
          SBD 3.97