Many have wondered what happens to the much desired Bitcoin ETF, given the strong investor interest and the strong resistance of the SEC.
And while the financial controller has opened a special office to handle fintech and crypto-related proposals for ETF and new products, the first crypto federation will live next week in Switzerland.
ETF was designed by cryptocurrency company Amun AG. ETF will start trading on the Swiss Swiss Exchange early next week, as reported by Mandy Williams from Cryptopotato News. Six Swiss exchanges are actually the fourth largest stock market in Europe, with the remarkable market value of $ 1.6 billion.
The ETF's name is "HODL", and it will follow some of the key crypto courses on the market, including Bitcoin, Ripple XRP, Ethereum, Litecoin, etc.
ETF is indexed and it will enable a combination of best possible digital coins to maximize investor profitability.
The introduction of a krypto ETF is an important milestone for the entire industry, as such a product talks about the potential stability and the adoption of crypto curves.
The crypto market is currently in a kind of free fall and loses about 15-16% of its total market value in no time. Bitcoin dropped to $ 5,300, while other coins fell by 17% on average.