Switzerland’s primary stock exchange SIX has listed an exchange-traded product (ETP) tracking the price of the XRP cryptocurrency. The newly listed ETP is issued and built by Amun AG. The exchange announced that the XRP ETP is now live and the ticker symbol for the ETP is— AXRP.
Amun AG Now Has Four Cryptocurrency ETP Products
This report is coming a month after Hany Rashwan, co-founder and CEO of Amun AG revealed that the firm has already secured approval from SIX to issue the product.
The launch of the XRP ETP brings the total number of Amun AG’s cryptocurrency ETP products listed on the SIX exchange to four. All four ETP products are built and issued by Amun AG’s own platform – the Amun Onyx
Currently, the firm has an ethereum (ETH)-based ETP (AETH) which was launched last month, a bitcoin (BTC)-based ETP (ABTC) and the Amun Crypto Basket Index ETP under the ticker symbol HODL which tracks the top 5 cryptocurrencies in terms of market capitalization and liquidity. The product was launched late last year. The five cryptos the index comprises of are BTC, XRP, ETH, bitcoin cash (BCH) and litecoin (LTC).
According to Hany Rashwan, Amun AG is on a mission 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, as long as any cryptocurrency has “sufficient liquidity, good development records, and no nefarious activity,” the firm would continue adding ETP product.
Rashwan also added 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.”
According to the firm, external customers are also allowed to use the Onyx platform to launch their own traditional and tokenized exchange-traded funds (ETFs).