Leading Swiss SIX Exchange launches Ripple (XRP) exchange-traded product (ETP)

Fibo Quantum

  • Amun AG announces the first Ripple ETP, AXRP which is now trading on SIX Exchange.
  • “We are planning on having 6–8 additional launches this year,” Amun AG CEO Rashwan.

Switzerland’s major stock exchange SIX Exchange has been reported to have listed a Ripple (XRP) exchange-traded product (ETP) according to an announcement published on the exchange’s official website.

Cointelegraph had reported in March, the plan by the Swiss-based exchange to release the product that had been named Amun Ripple (AXRP). The CEO of Amun Hany Rashwan had during the announcement last month that their XRP ETP was the first product of its kind on the market:

“We can comfortably say that we expect to release the world’s first XRP ETP within the next two months.”

The news released today by Amun AG, the developer of the product said that XRP ETP trading has gone live on the SIX Exchange using the symbol AXRP. The listing AXRP brings the total number of cryptocurrency products to the exchange to four. An Ethereum-based ETP (AETH) was introduced last month while a Bitcoin-based ETP (ABTC) had been launched in January. In November last year, Amun launched the Amun Crypto Basket Index ETH using the symbol HODL.

According to a report by CoinDesk, CEO Rashwan said:

“We seek to create an easy, safe, and regulated way for investors to access the crypto asset class.” In addition to that “We plan on launching other strategies, more single asset ETPs, and more indices! We are planning on having 6–8 additional launches this year.”

 


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