Swiss crypto investment product provider Amun says it has received significant institutional interest in its exchange-traded product (ETP) tied to the Binance Coin (BNB) exchange token.
Amun’s Managing Director and Head of ETFs, Laurent Kssis, said the company’s European roadshow in London, Zurich, Milan and Scandinavia is already “fully booked” with meetings with representatives from over 30 institutional investors across the continent.
The event, which began last week and is expected to continue through Friday, is marketing the BNB ETP to potential clients. These are primarily “qualified investors who may have a mandate to allow exposure to crypto as part of a much broader portfolio of assets,” said Kssis.
Meetings have been with hedge funds and family offices, with some also scheduled with asset managers. One-to-one sessions were oversubscribed, so Amun has added more events, including a lunch meeting, for investors to participate in.
Obviously, taking a meeting isn’t the same as making a purchase. But institutional interest may signal that such big-money investors are starting to broaden their crypto horizons beyond bitcoin.
The ETP and BNB
The ETP is listed on Swiss stock exchange SIX and was created in conjunction with Binance and launched in October. Each tradeable unit tracks just over 1 BNB, providing institutional investors with exposure to the exchange’s ecosystem through a regulated, conventional product.
Amun launched its first crypto ETP in October 2018, tracking a basket of the five largest cryptocurrencies by market cap. According to Kssis, institutional interest in the BNB ETP has broadly been in line with those of other Amun products that launched this year.
The measures Binance takes periodically to reduce the supply of BNB are part of what makes it attractive to institutions, said Lanre Jonathan…