Swiss stock exchange SIX has partnered with fintech firm Amun to launch a fully-collateralized cryptocurrency-based financial product denominated in Swiss francs.

According to an announcement, the companies are launching the Amun bitcoin Suisse BTC/ETH ETP (ticker: ABBA), which is the first cryptocurrency ETP denominated in CHF. It allows Swiss investors to gain exposure to a basket of 90% bitcoin and 10% ether using their fiat currency.

This means through the market-weighted ABBA ETP, Swiss investors can gain exposure to more than 75% of the cryptocurrency market. Exchange-traded products (ETPs) are legally obligated to be backed one-to-one by reserves, unlike exchange-traded notes (ETNs). Essentially, every BTC and ETH custodied in the ETP is fully backed.

Hany Rashwan, co-founder and CEO of Amun, was quoted as saying:

The Amun Bitcoin Suisse BTC/ETH ETP was designed for the Swiss by the Swiss to answer a need for a CHF denominated ETP. It represents a unique way for investors to add the two major cryptocurrencies globally to their portfolio via a regulated product listed on SIX and backed by a Swiss-based custodian.

Rashwan added the product “further exemplifies Switzerland’s leading position in the crypto space.” The ETP relies on data supplied by the MVIS index provider, which uses data aggregated by leading cryptocurrency data aggregator CryptoCompare.

It follows numerous other cryptocurrency-based ETPs Amun has launched this year, which give investors exposure to leading cryptocurrencies like bitcoin, ether, XRP, and bitcoin cash. Amen has also launched the world’s first multi-asset crypto index ETP, HODL.

Featured image by Chris Liverani on Unsplash.