Crypto represent a â€śborder-lessâ€ť asset that anyone can own, but actually getting hold of it isnâ€™t easy for everyone. Amun, a company that wants to make buying crypto as easy as stock, has pulled in $4 million in funding to offer more established channels for crypto ownership.
The startup currently offers punters an ETP (exchange-traded product) on the Swiss Stock Exchange that pulls together five of the most popular crypto assets: Bitcoin, Ethereum, Bitcoin Cash, XRP and Litecoin.Â HODLÂ â€” as it is called after â€śholdingâ€ť crypto rather than selling it (LOL) â€” can be purchased just like any stock.
That five-crypto basket is just the start for Amun, which is developing ETPs for other crypto assets individually. The first one is for Bitcoin â€”Â ABTCÂ â€” with others planned to come soon; youâ€™d imagine the usual suspects such as Ethereum and co will follow. Indeed, Amun has licenses to the five crypto assets in HODL as well as EOS.
While the products are ETP and not covered by Collective Investment Schemes Act (CISA), they are protected in custody and by insurance. They are collateralized and backed by an identical amount of crypto assets.