XRP Exchange-Traded Product Listed On Swiss SIX Exchangebr>
A cryptocurrency-based exchange-traded product (ETP) for Ripple’s XRP is now live on SIX Swiss Exchange, Switzerland’s principal stock exchange.
The Amun Ripple XRP ETP, which was developed by Swiss FinTech startup Amun AG, started trading on the exchange on Tuesday under the ticker symbol “AXRP.” Amun claims that the ETP, which will track the investment result of XRP, is the first XRP ETP.
In a statement, Amun co-founder and CEO Hany Rashwan said that the company aims to make investing in cryptocurrency “as easy as buying a stock,” adding that the the firm would continue creating ETP products.
“We seek to create an easy, safe, and regulated way for investors to access the crypto asset class,” Rashwan said. “We plan on launching other strategies, more single asset ETPs, and more indices! We are planning on having 6–8 additional launches this year. Amun AG has been granted the approval to issue ETP linked to Litecoin (LTC), Bitcoin cash (BCH), EOS, and Stellar Lumens (XLM).”
The launch of the Ripple XRP ETP brings the total number of Amun’s cryptocurrency ETP products listed on the SIX exchange to four. In 2018, the firm listed HODL, the world’s first physically backed ETP based on five major cryptocurrencies – BTC, ETH, BTC Cash, XRP and Litecoin – which has become the top ETP on the Swiss Stock Exchange by volume. Earlier this year, it launched an ethereum-based ETP (AETH) and a bitcoin-based ETP (ABTC).