Switzerland’s primary stock exchange SIX launches an exchange-traded product (ETP) that will track the price of the XRP cryptocurrency. Announcing the news on Tuesday, maker of the product, Amun AG stated that the XRP ETP had started trading on the exchange under the ticker symbol AXRP.
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With today’s launch, Amun AG has a total of four cryptocurrency ETP products listed on the SIX exchange. Just last month, the firm launched an ethereum (ETH)-based ETP (AETH). A month prior, bitcoin (BTC)-based ETP (ABTC) went live and the firm launched the Amun Crypto Basket Index ETP under the ticker symbol HODL in November.
The HODL product tracks the top 5 cryptocurrencies in terms of market capitalization and liquidity, including BTC, XRP, ETH, bitcoin cash (BCH) and litecoin (LTC). Rashwan told CoinDesk on Tuesday that Amun AG wants to make investing in cryptocurrency “as easy as buying a stock.” He stated:
“We seek to create an easy, safe, and regulated way for investors to access the crypto asset class.”
Rashwan notes that as long as any cryptocurrency has “sufficient liquidity, good development records, and no nefarious activity,” the firm would continue adding ETP products, he added:
“We plan on launching other strategies, more single asset ETPs, and more indices! We are planning on having 6–8 additional launches this year.”
Built on Amun AG’s own platform, the Amun Onyx, all four ETP products are still operated by the platform once they go live on the SIX exchange, according to the statement. The firm said it is also signing on external customers to use the Onyx platform to launch their own traditional and tokenized exchange-traded funds (ETFs).