Switzerland based fintech firm announced the launch of a new BNB-backed exchange-traded product (ETP) on Switzerland’s principal stock exchange SIX. The ETP is listed with the ticker ABNB which can now be purchased via bank or using stock.
Amun is a swiss based crypto company which is already into ETP product, bringing various ETPs to market. The platform earlier listed ETP for Bitcoin, Ether, XRP and other cryptocurrencies on the Switzerland stock exchange SIX. However, Amun recently collaborated with Binance crypto exchange and listed the new BNB-backed ETP ticker (ABNB) on the SIX stock exchange. The ticker will now track the performance of BNB, the native token of Binance Crypto exchange.
The announcement undoubtedly excited Binanciers, particularly Binance CEO Changpeng Zhao (CZ) who appreciated Amun and said;
“Our partnership with Amun in launching the BNB ETP will provide investors with a new and regulated asset class with a unique dimension to utility tokens, making them more accessible and reliable through a traditional financial infrastructure.”
Accordingly, this is another regulated avenue for BNB to gain significant exposure from investors and retailers who preferably looking for regulated ETPs. The news might have quickly influenced the value of BNB which is currently surging by 4.86 percent within the past 24 Hrs. At press time, BNB is trading at $19.12 by capturing the seventh-largest spot with the market capitalization of $2,974,615,071.
Nevertheless, Amun CEO Hany Rashwan said that ABNB ETP is initially seeded with $20 million worth of BNB token which was appreciated by Bitcoin bull Anthony Pompliano who took to Twitter and stated;
BREAKING: Amun just announced a new BNB-backed Exchange Traded Product (ETP) on the SIX Swiss Exchange. The ETP is seeded with $20 million of BNB and will give institutional and retails investors exposure to @binance ’s token.
Amun CEO Hany Rashwan further expressed his excitement of making BNB accessible to institutional and retail investors. It’s worth adding that SIX’s entry into multi-crypto ETP started back in late 2018 whereas Amun joined hands with another Swiss company, Bitcoin Suisse to list Bitcoin-Ethereum based ETP (Amun Bitcoin Suisse BTC / ETH ETP, abbreviated as ABBA) on the Swiss’s SIX exchange early this month.
Image Source – Twitter @AmunAG
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