Switzerland’s SIX stock exchange has listed a new cryptocurrency-based exchange traded product (ETP), the Amun Tezos ETP, which rewards investors with generated income.
The Tezos ETP is trading under the AXTZ ticker on the SIX stock exchange, and rewards investors thanks to Tezos’ proof-of-stake nature, which gives holders rewards for staking – “baking” in the Tezos ecosystem – their XTZ. The rewards are to be reinvested automatically in ETP shares for the investor.
The XTZ in the ETP is set to be held by Coinbase Custody, which launched staking support for Tezos staking for institutional investors back in March of this year, before launching it for all eligible U.S. customers earlier this month.
Amun’s CEO, Hany Rashwan, said in a statement:
Via our ETP, [investors can] participate in the associated rewards for contributing to the security and stability of the Tezos blockchain – without the need to ever have to set up a crypto wallet or taking care of a private key.
The company behind the ETP, Amun AG, has launched eight other cryptocurrency-based ETPs, and reportedly has a total of $70 million in assets under management. Its other ETPs include HODL, the world’s first multi-asset crypto index ETP, as well as the Amun Binance BNB ETP (ABNB).
Amun is set to charge an annual management fee of 2.5% for the AXTZ ETP, which is available for both institutional and retail investors.
Featured image via Pixabay.