Zurich-based crypto firm Amun AG launched a Tezos exchange-traded product (ETP), which will be listed on the Swiss SIX Stock Exchange under the ticker AXTZ, shared the company in a statement on November 14.
Hany Rashwan, Amun AG CEO, added that ETP holders will be eligible to earn passive income for contributing to the security and stability of the Tezos blockchain, for which they no longer need to operate with the underlying asset. In other words, the investors that hold the newest ETP product longer, will receive more staking rewards in the Tezos ecosystem. The annual management fee collected by Amun will be 2.5%.
According to the press release, Amun Tezos ETP’s underlying asset, Tezos cryptocurrency, will be stored by Coinbase Custody.
Switzerland-based ETP issuer Amun has already launched nine crypto ETPs with the SIX Swiss Exchange, including a Tezos ETP. Last month, crypto exchange Binance partnered with Amun to allow a BNB ETP to be listed on the regulated segment of the SIX Swiss Exchange.