In Europe a new Exchange traded product was born which is called Amun. In Europe we are increasingly opening ourselves to the opening of tools that are able to create or replicate a basket of digital currencies.
One of the most interesting projects in this area is the new Amun founded by Hany Rashwan and Ophelia Snyder two young people under 30 who have worked on this new Exchange traded product.
What does the Amun Crypto Basket Index consist of?
The Amun Crypto Basket Index is the full name of this new index created by the two young people. The index is made up of 5 important ones cryptocurrency based on their market capitalization. As explained by the young owners of the Amun start-up, cryptocurrencies that meet specific requirements are accepted such as: acceptance by the Swiss Bank, liquid digital currencies, cryptocurrencies that have a positive track record and finally those that can be used by market makers. So in this basket there are some excluded currencies among which Tether is a stablecoin linked to the value of the US dollar.
This particular index has been studied thoroughly for over a year to succeed to guarantee investors the easiest way possible to take note of the trend and value of digital coins. To succeed in this aim, the two young creators had to untie two insidious knots such as: ease of purchase and safety.
In the field of simplicity of purchase, the index has been equipped with an ETP type box that is easily purchased on the stock exchange and like a traditional financial instrument such as bonds and equities. From the point of view
The security
Snyder then tells how difficult it was to structure such a product: «We wanted to offer investors an easy way to get exposure to digital currencies.
And to do this we had to untie two big knots: the ease of purchase, which we obtained with the Etp box (it can be purchased on the stock exchange through any intermediary like any other traditional financial instrument such as stocks, bonds or structured products, ed). and security, ensured by the fact that cryptocurrencies are kept in a virtual wallet completely isolated from the rest of the world (the central computer that houses the wallet has no connection to the Internet, ed.).
We use complex security measures, with extremely sophisticated cryptographic protection ». The first Etp on digital gold, which has an investor fee (the equivalent of our management fee) of 2,5%, could soon also reach other markets, as confirmed by Snyder herself: «We are talking to other exchanges and regulators, all over the world, precisely to open up to new markets.
We also have the launch of other products in the pipeline. The idea is to create a family of instruments entirely dedicated to cryptocurrencies ». And who knows if the debut of this ETP does not spur other regulators, Sec in the first place, to open the doors of the "replicants" to cryptocurrencies.
For months, the markets have been waiting for a response from the American Consob to the request made by some companies for the listing of ETFs on Bitcoins. Opinion that has not yet arrived. But the time may now be ripe. Sec Commissioner Hester Peirce has also been saying this for some time, convinced that "Etf on Bitconi is inevitable".
