Homburger advised Amun AG in the issuance of new Bitcoin (BTC)-linked Exchange Traded Products

On February 26, 2019, Amun AG (Amun), a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully listed its second series of crypto-linked Exchange Traded Products (ETPs) on the SIX Swiss Exchange.

The underlying asset of this second series is Bitcoin (BTC) that, again, is held by or on behalf of Amun through an independent custodian and serves as a reference for the value of the ETPs and collateralizes the respective series on a 1:1 basis. The BTC serving as collateral are purchased on the open market or in direct purchases from designated primary sources of liquidity, including reputable authorized exchanges.

Homburger advised Amun with respect to all aspects of Swiss law. The Homburger team was led by partners Daniel Haeberli and Benjamin Leisinger (both Capital Markets) and comprised paralegal Ganna Goncharova (Banking and Finance).