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Swiss Exchange Traded Fund launched recently
The Amun Crypto Basket Index (SIX: HODL) index, which traded on the Swiss Exchange SIX, recorded new volumes even though cryptocurrency prices remained depressed, indicating that more experienced investors could buy declines.
In yesterday's tweet of the FX Hedge Fund's CEO, Su Zhu, the bad HODL ETF on Thursday and Friday broke the volume with 53,233 shares and 62,986 shares traded, respectively. It happened when BTC and ETH fell below $ 3200 and ETHs less than $ 90. He said that the correlation between volume and prices continues to be "very strong" at 68%. In other words, the report is negative in the sense that a fall in prices in Ethereum and Bitcoin increases the volumes of ETP.
On December 5, Zhu said that there was a high percentage of net inflow of volumes indicating that users are not negotiating. This after 27,244 actions on November 23 led to the creation of 20,000 shares and 16,727 shares on November 26, they led to the creation of 15,000 shares.
An ETP offers a portfolio of exchange-traded products designed by the investment manager to offer investors broader and more balanced access to a sector of interest. The manager will organize for liquidity, manage prices, carry out trading operations and create and index the price for a simple valuation.
For the Amun Crypto Basket Index (SIX: HODL), investors get exposure to the four most liquid digital currencies based on market capitalization, but also with shares smaller than other currencies. Bitcoin includes the largest share of HODL ETP at 48%, followed by XRP (30%), Ethereum (17.6%) and smaller shares of Bitcoin Cash and Litecoin.
An ETP, according to experts, could be a great way for an investor or a family business that tries to add cryptocurrencies to their portfolios for diversification purposes. The president of the Concordium Network and the Concordium Foundation have told Investing.com that these products usually offer an advantage.
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