A Swiss fintech wants to list the world’s first crypto index product on the stock exchange soon. It has hired an expert for passive investment products to help it with the launch.
Amun, a fintech based in Switzerland, has plans to launch an exchange traded product (ETP) for crypto investments on the Swiss exchange.
It has now hired Mark Rodino (pictured left) as head of global distribution, according to a statement on Wednesday. Rodino is a veteran in the business with passive investment products, having worked for HSBC and Stoxx, the erstwhile SIX unit.
ETP Listed on SIX
Rodino will report to Hany Rashwan, the chief executive officer of Amun. The Eqyptian businessman made his career in the Silicon Valley and was one of the «30 under 30» list of most influential young entrepreneurs compiled by «Forbes» magazine. Amun Switzerland is a daughter company of Amun Technologies, a U.K.-based firm.
Rodino will have his work cut out as Amun plans to list the crypto index on the SIX exchange. It will include digital currencies such as bitcoin, ripple and litecoin. The index is going to be managed by the German index unit of Van Eck.
Hopes Were Dashed
The crypto community has high hopes for index products, because they may be the decisive step to bring the crypto currencies into the mainstream fold of financial investment. Hitherto, the hopes were dashed by authorities skeptical about the regulation within the industry. Several banks have launched crypto derivatives in Switzerland, among them Vontobel, Swissquote as well as the derivatives expert Leonteq.
