In a recent development, SIX, Switzerland’s primary stock exchange has listed an income-generating exchange-traded product (ETP). The product is based on Tezos (XTZ) token and will be issued by fintech firm Amun AG in partnership with Tezos Foundation.
Investors Can Now Earn Passive Income
The ETP will allow investors to earn a passive income via transactions validated on the Tezos blockchain. For the same Amun will be charging an annual management fee of 2.5%. The product will be available to both retail and institutional investors. Interestingly, investors can contribute to the stability and security of the Tezos blockchain without the need to set up a crypto wallet. As a matter of fact, the Tezos tokens of the ETP are in Coinbase’s custody and the latter is also responsible for staking them.
From the CEO’s Desk
“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,”
Hany Rashwan, co-founder and CEO of Amun
What is an Exchange- Traded Product?
An Exchange Traded Product is a financial security that derives its price from other underlying assets. It can be traded on the traditional stock exchange like any other stock or commodity. Intra-day orders of the ETPs can be also be placed. Moreover, Exchange Traded Products can not only be used to place intraday orders but also to develop other financial products on it.
Amun Lists 9th ETP On SIX Exchange
With today’s launch, Amun AG now has a total of nine cryptocurrency ETP products listed on the SIX exchange. These include, XRP-based ETP,