Switzerland’s SIX exchange lists Tezos-based ETP

A month ago, Zurich-based stock exchange, SIX Swiss Exchange, had rolled out exchange-traded products [ETP] on its platform. Along with its partner Amun AG, the platform started off with only Bitcoin and Ether-based ETPs. However, it soon went on to add XRP, Bitcoin Cash and BNB on its list. Tezos [XTZ] is the latest token to become part of the platform.

The latest listing is a result of Amun AG’s partnership with the Tezos Foundation. The product, Amun Tezos ETP with the ticker symbol  AXTZ, was launched on the platform on 5 November. The management fee for the latest product is 2.5% per anum.

As per Amun AG’s official website, AXTZ would be the first of its kind and users will be able to earn “additional yield” via transactions on the Tezos blockchain. AXTZ would be administered through the ONyx platform. Additionally, for the Tezos ETP, users can use Coinbase Custody for staking.

Speaking to a news portal, CEO of Amun AG, Hany Rashwan, elaborated on the same and said,

“Investors will be able to buy a stock for as low as $20 and we bake/stake on their behalf and return it to them as a dividend without them required to do any staking on their own”

The platform currently hosts about nine cryptocurrency ETP products on the Swiss SIX Exchange, including the Tezos token.

Additionally, the platform leaped into the German market with the launch of ETP products on the stock exchange, Boerse Stuttgart. Since access to ETPs was limited to the United States dollar and Swiss francs only, the latest partnership would lead to the addition of Euros.

Amun AG’s Managing Director, Laurent Kssis, commented on the same and said,

“For the first time, European investors have access to an institutional-grade, low-cost, exchange-traded investment vehicle in Euros tracking a basket of crypto currencies and other single issuances.”