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Swiss SIX Exchange lists XRP-based exchange-traded product

Tue, 02 Apr 2019, 11:06 am UTC

Following the launch of Ethereum-based exchange-traded product (ETP) last month, Switzerland’s principal stock exchange, SIX Swiss Exchange, has launched the trading of XRP ETP.

Amun AG, the firm behind the product, has announced that the Amun Ripple XRP ETP has launched on SIX under the ticker symbol “AXRP.”

“The Amun Ripple XRP Exchange Traded Product (ETP) seeks to track the investment result of XRP,” the description reads.

Amun AG is a Swiss fintech company backed by Boost VC. Last year, it listed HODL, the world’s first physically backed ETP based on five leading cryptocurrencies (BTC, ETH, BTC Cash, XRP and Litecoin), which has become the top ETP on the Swiss Stock Exchange by volume.

Earlier this year, SIX has also launched Bitcoin-based ETP last month under the ticker symbol “ABTC.”

Speaking to CoinDesk, Hany Rashwan, Co-Founder and CEO at Amun, said that the company aims 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,” he said, adding that the Amun would continue adding ETP products.

“We plan on launching other strategies, more single asset ETPs, and more indices! We are planning on having 6–8 additional launches this year,” he added.

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