RE: Crypto Falls Further / ETP Launches / Adoption Grows
Re “World’s First” ETP
As far as I’m aware, Amun’s HODL ETP is the World’s First Multi-Crypto ETP. That’s what sets it apart.
As you mentioned on the show, ETPs that track crypto already exist - there’s Bitcoin Tracker One and Ether Tracker One which are ETNs (Exchange Traded Notes) where the issuer is on the hook and has to be trusted (read: centralized). They promise to buy actual bitcoin / ethereum to back the shares and they track the price of the asset.
But all the existing ETPs are specific to a single crypto, so for something to come along and bundle them together and put a single share price on it, like a mutual fund, or, oh I don’t know... what do they call that in institutional terms,... EXCHANGE TRADED FUND then I’d agree with anyone who said this was newsworthy and raise that it was groundbreaking.