SIX launches an ETP based on Tezos in Switzerland
The biggest stock exchange from Switzerland, SIX has been making some changes in its listings and expanding their horizon as they list assets on the platform to update the list. In October, SIX collaborated with Binance to list the BNB token as an exchange-traded product (ETP) on its platform. This partnership would help to increase the hold of Binance in the market even more.
Tezos-based ETP launch on SIX
The biggest Swiss stock exchange SIX recently listed a Tezos (XTZ) based exchange-traded product (ETP) on its platform. Amun AG did the listing, and Coinbase Custody will provide custody services. CEO of Amun AG, Hany Rashwan, believes that this would be the first product that gives the investors a chance to earn revenue by stacking.
On the busiest single day in our history, we're delighted to announce:
We've launched the world's first #Tezos ETP (AXTZ)
We've admitted to trade seven of our ETPs on @boersestuttgart, denominated in euros
We've admitted to list six of our ETPs on @bx_swiss, denominated in CHF pic.twitter.com/9vIGH3NKz8
— Amun (@AmunAG) November 14, 2019
The company has been part of the system and would allow baking of new XTZ coins on behalf of customers and pay dividends. Amun has an annual charge of 2.5% of the asset for the services of asset management provided by the platform. Both institutional and retail investors can use the products available to them.
Listed under the ticker AXTZ, Tezos-based ETP is the 9th crypto product that is listed on SIX. Other products listed by them are ETPs based on Bitcoin, Bitcoin Cash, Ethereum, and Binance Coin.