The world of digital assets has been seeing a lot of developments and updates lately. Bitcoin Cash was one such ecosystem to report the same. A recent report has revealed that users will now be able to invest in Bitcoin Cash [BCH], through an exchange-traded product.
On July 5, Amun AG, a fintech company based in Switzerland, announced the listing of the world’s first ETP which will track the performance of Bitcoin Cash. Hany Rashwan, Co-founder of Amun, stated,
“We are delivering our strategy, which is to provide investors with the wider product suite in the crypto-assets space, easily available on one of the most reputable market place, the Swiss Exchange. Thanks to this product, investors can now easily”
Bitcoin Cash has been on the down low in terms of updates, compared to its forked rival, Bitcoin SV. The latest development was seen as a positive sign by Bitcoin.com CEO and major Bitcoin Cash proponent, Roger Ver. Ver commented,
“Bitcoin Cash is becoming a game changer in the crypto ecosystem and beyond, and Amun will help solidify its global adoption. We are confident that our investment in the new Amun BCH ETP will set the example and drive more investors to join the growing community which believes in the success of Bitcoin Cash.”
ETPs are debt securities that function with the aim of replicating an underlying asset. There have been many debates in the realm of cryptocurrencies on the topic of whether these assets need to be considered as different market commodities or as funds. However, under the legal purview, they are allocated in the funds department.
Amun was in the news recently after it launched a Ripple XRP-backed ETP on Six, one of Switzerland’s major stock exchanges. Bitcoin Cash joining XRP’s roster was seen as a move to boost adoption and awareness of cryptocurrencies in the mainstream financial ecosystem.