Swiss Stock Exchange Just Launched Ripple XRP-Based Product Along With EOS, Stellar, and Litecoin

Switzerland’s leading stock exchange SIX has launched the first-ever exchange-traded product (ETP) to track Ripple’s XRP cryptocurrency. According to the announcement by SIX, the XRP ETP started trading under the ticker symbol Amun Ripple XRP (AXRP) on April 2.

The maker of the product is the Swiss fintech firm Amun AG, who first revealed they were planning to launch an XRP ETP last month.

Per the announcement, the Amun Ripple XRP ETP will incur a management fee of 2.5% and will be identified under the ticker, AXRP SE on Bloomberg and AXRP.S on Reuters.

Amun AG Crypto ETPs

Including the recently listed XRP ETP, Amun AG now has a total of 4 crypto ETP products listed on the SIX exchange.

As previously reported by IIB, the firm’s first crypto ETP consisted of a basket of the 5 top cryptocurrencies and traded under the ticker symbol HODL in November 2018.

Following the Amun Crypto Basket Index ETP, the firm launch launched a Bitcoin (BTC)-based ETP in February, which started trading under the ticker ABTC. After this, the firm launched an Ethereum (ETH)-based ETP under the ticker symbol AETH.

Thus far, the most popular crypto ETP with the highest daily trading volume is the HODL 5 index, which tracks the top 5 cryptocurrencies by market cap and liquidity. It consists of Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC).

More Amun Crypto ETPs to Come?

Apart from the newly listed XRP ETP (AXRP) on the SIX exchange, the co-founder and CEO of Amun AG, Hany Rashwan told Coindesk that their firm will continue to add cryptocurrency ETP products.

He said they plan to create an easy, safe, and regulated way for investors to access the crypto asset class, 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.”

Some of the cryptocurrency assets expected to be launching in upcoming Amun ETPs in 2019 include Bitcoin Cash (BCH), EOS (EOS) and Stellar Lumens (XLM).

Which cryptocurrency ETP will wee see get launched next? Do you think these crypto ETPs are leading to expanded investment in the crypto space? Let us know what you think in the comment section below.

1 Comment

  • James Doyle
    Posted April 4, 2019 4:44 pm 0Likes

    Fiat debt based money with no tangible assets to back it is archaic and inflationary and its demise is only a matter of time.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.