As emerging interest is seen in the ETP, exchange-traded-product attached to Binance Coin or BNB exchange token, of Swiss crypto investment product provider Amun since European roadshow by the company in London, Zurich, Milan and Scandinavia is already entirely booked with meetings with representatives with more than 30 institutional investors, who may have mandate to allow exposure to crypto as part of portfolio, across the continent. The reason of the event is to introduce the BNB ETP to potential clients. Amun assimilated some more events for investors to participate in. These meetings put a sign that these moneyed investors will soon start extending their crypto horizons beyond bitcoin.
The ETP and BNB
As we know ETP, which got launched in October 2018 by Amun, is created in conjunction with Binance and has already been listed on Swiss stock exchange SIX, which is the first exchange in the world to incorporate a fully automated trading, where each tradeable unit tracks just over 1 BNB. Investor’s interest on BNB ETP is augmenting broadly. Token burn, in which process Binance burns a given amount of BNB equal to 20% of their quarterly profits, has been the issue of BNB’s value proposition. Other than that holders of BNB also get special discounts as well as special privileges. So it is expected that new BNB-integrated products might become another key value proposition. Hopefully it will obtain a great amount of market share again indeed. According to Amun in subsequent one year Binance coin would be one of the best performing market cap crypto assets.
Belief in Alt
A report showed that inflows into the non-bitcoin trusts, aggregate investment to non-bitcoin products is about $104.4 million, increased severely and the 80% of the interest is coming from institutions. But a few numbers of institutional investors still have faith in altcoins. It seems that miners who saved bitcoin at bull run are releasing additional supply on the market. As a result a selling pressure is seen on bitcoin as assumed causing 10 percent fall over the weekend. May be, this lacking of short selling will make traders unwilling to speculate about the future prices and traders will hold BTC. Clients had enquired about purchasing BNB back in September. A piece of news said that authorities in China had paid a visit to Binance’s Shanghai office even during a government clampdown on crypto sector. But the event was reportedly characterized a police raid but Binance denied that they have office in the province that surely can discourage investment. Hence paying interest and investing two are different things but Amun is hoping investments.