An XRP created exchange-traded product (ETP), that tracks the price of the cryptocurrency, has gone live on SIX, Switzerland’s primary stock exchange. However, Exchange traded product from XRP set to go live on Swiss SIX Exchange.
The maker of the product, Amun AG, shared the news at the beginning of March. He said that under the ticker symbol AXRP, the XRP ETP had started to trade on the exchange.
Co-founder and CEO of Amun AG, Hany Rashwan, said at the time when the launch of the product was revealed, that his firm had an approval already in place from SIX to issue the product.
There is now a total of four cryptocurrency ETP products by Amun AG listed on the SIX exchange. Although, at the beginning of the year the firm launched an ethereum (ETH)-based ETP (AETH), as well as a bitcoin (BTC)-based ETP (ABTC). However, in November the firm launched the Amun Crypto Basket Index ETP under the ticker symbol HODL.
The top 5 cryptocurrencies are tracked by the HODL product in terms of market capitalization and liquidity. It currently comprises of:
- bitcoin cash (BCH)
- litecoin (LTC)
Exchange traded product from XRP set to go live on Swiss SIX Exchange. Rashwan’s intent is for Amun AG to make investing in cryptocurrency “as easy as buying a stock.”
“We seek to create an easy, safe, and regulated way for investors to access the crypto asset class.”
Also, he said that the firm will continue adding ETP products, as long as any cryptocurrency has “sufficient liquidity, good development records, and no nefarious activity,” adding:
“We plan on launching other strategies, more single asset ETPs, and more indices! We are planning on having 6–8 additional launches this year.”
In order to launch their own traditional and tokenized exchange-traded funds (ETFs), the firm said it is also signing on external customers to use the Amun AG’s own platform – the Amun Onyx.
The platform operates the products once they go live on the SIX exchange. However, according to the statement, all four of the ETP products are built and issued by the Amun Onyx.