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Home›Financial authority›Swedish financial authority approves Swiss ETP crypto provider Amun BlockBlog

Swedish financial authority approves Swiss ETP crypto provider Amun BlockBlog

By Mark L. Wells
December 11, 2019
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On December 10, Swiss company Amun AG announced that the company’s base prospectus had been approved by the Swedish Financial Supervisory Authority (SFSA). The ETP provider said it plans to expand its digital asset ETPs across Europe, with Sweden showing “strong demand” for these products.

Also Read: Wisdomtree’s Physically Backed Bitcoin ETP Plays Live on SIX Stock Exchange

The digital currency based ETP provider Amon AG made progress in Sweden this week when the Swedish Financial Supervisory Authority (SFSA) approved its base prospectus. A base prospectus essentially describes an offer so that a company can apply for registration in the same way as traditional ETPs based on securities currently traded on the regulated market. Amon said in a Press statement After SFSA approval, the company is happy to confirm its plans to expand its digital currency-based ETPs. Amun already provides Exchange Traded Products (ETPs) that track digital currencies and a variety of Amun crypto ETPs are traded on the Swiss Stock Exchange.

Swedish financial authority approves Swiss crypto provider ETP Amun

“Our mission is clear and is to help investors invest more securely, profitably and easily in crypto asset classes through our crypto ETPs. We are very fortunate to have completed this process within four months of its consultation period, ”Amun President Ms. Ophelia Snyder said during the announcement. Snyder added:

We recognize that the Swedish regulatory framework has supported such initiatives and welcome its deliberations.

Swedish financial authority approves Swiss crypto provider ETP Amun

At present, Amun manages a multitude of crypto ETPs which are traded on the main Swiss exchange SIX. Amun recently partnered with Swiss Bitcoin in October to offer ETP Amun Bitcoin Suisse (ticker: ABBA) a fund that tracks the prices of both ETH and BTC. Then, Amun also offers the ETP “HODL” which consists of a basket of five different digital currencies.

Swedish financial authority approves Swiss crypto provider ETP Amun
Amun’s index ETPs.

It also offers an ETP for the Bitwise Select 10, the Sygnum d’Amun platform winners index, and six single-tracking ETPs that use ETH, BNB, XRP, BCH, XTZ, and BTC. However, Amun’s SFSA approval announcement does not disclose which ETPs the company will list or which exchanges it will use in Europe. Amun works with regulators across the EU and the company says there is a strong demand in Sweden for crypto-based investment vehicles.

“The combination of strong demand for ETP in Sweden – particularly in crypto assets – among private investors and institutional clients and our strong expertise in these product categories create ideal conditions for Amun’s entry into the Swedish and European Union markets for FTEs, ”Snyder added. .

Swedish financial authority approves Swiss crypto provider ETP Amun
Amun single track ETP.

Amun’s EU-approved Swedish prospectus will help the company gain a foothold in Europe. The SFSA approval shows that digital asset-related investment funds continue to enter the world of traditional finance. In the first week of December, Amun’s cash-settled ETP faced competition on the Swiss exchange SIX when New York-based Wisdom Tree listed its physically settled bitcoin ETP.

How do you feel about Amun getting regulatory approval from the Swedish Financial Supervisory Authority (SFSA)? Let us know what you think of this topic in the comments section below.

Disclaimer: This article is for informational purposes only. This is not an offer or solicitation of an offer to buy or sell, nor as a recommendation, endorsement or sponsorship of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.


Image credits: Shutterstock, Amon AG, Pixabay, Finansinspektionen, Wiki Commons and Fair Use.


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Tags in this story

Amun, Amun AG, BCH, Swiss bitcoin, bnb, BTC, ETH, ETP, Europe, six, Sweden, XRP, xtz


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