Amun
Gets Regulatory Approval to Offer Crypto Exchange-Traded Products in EU
Swiss fintech firm Amun AG has
received regulatory approval to expand its offerings within the European
Union, as the Swedish Financial Supervisory Authority (SFSA) approved its
base prospectus to offer investment products tied to cryptocurrencies.
Amun currently offers nine
cryptocurrency exchange-traded products (ETPs) in Switzerland and Germany,
including products tied to BTC, ETH, XRP, and more. These ETPs let investors
gain exposure to the cryptocurrencies without having to hold them directly
and managing private keys.
The Swedish regulator’s
approval means Amun can list its cryptocurrency ETPs on regulated exchanges
not only in Sweden but in the European Union. The approval, according to
Amun’s president Ophelia Snyder, took four months of consultancy period to
get.
Speaking to The Block Amun’s
CEO Hany Rashwan noted the SFSA is a “forward-thinking regulator” and that
Sweden has a “highly crypto-engaged population.” He added Amun’s ETPs will be
listed on “three European exchanges by the end of 2020.”
