RATE Group | The World’s First Cryptocurrency ETF Is Live! Here’s What You Need To Know
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The World’s First Cryptocurrency ETF Is Live! Here’s What You Need To Know

04 Dec The World’s First Cryptocurrency ETF Is Live! Here’s What You Need To Know

Posted at 05:16h in Cryptocurrency News by

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The cryptocurrency ETF that investors have long been pining for has finally arrived, but it might be a little different than you were expecting.

The first ever crypto ETF, the Amun Crypto Basket Index ETF (HODL) was launched in Switzerland earlier this week and trades on the Six Swiss Exchange. It seeks to hold a basket of the five largest cryptocurrencies ranked and weighted by market cap, which currently consist of Bitcoin (BTC-USD), Ripple (XRP-USD), Ethereum (ETH-USD), Bitcoin Cash (BCH-USD), and Litecoin (LTC-USD). The portfolio will rebalance on a monthly basis.

So far here in the United States, the SEC has balked at the idea of a cryptocurrency ETF. Well over a dozen filings for a bitcoin-related ETF have been rejected from the likes of ProShares and Direxion, but the most notable rejection is the original bitcoin ETF filing, the Winklevoss Bitcoin ETF (COIN). The reason for rejection has largely been the same in every case. The SEC is not comfortable with the unregulated…

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