Switzerland’s top stock exchange SIX today announced it would list a Ripple (XRP) exchange-traded product (ETP) as of 4 April.
The cryptocurrency derivative development company Amun is behind the product dubbed AXRP and claims it to be the only one of its kind on the market. Both AXRP’s fund and trading currency will be USD.
CEO and co-founder of the firm, Hany Rashwan, said the company has received approval from SIX for an additional four ETPs for Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM) and Eos (EOS).
Amun has built a reputation for the progressive development of digital currency ETPs. Besides AXRP, the firm released an Ethereum (ETH) ETP last month in addition to a BTC-tracking ATP in February. Back in November 2018, Amun listed what they claimed to be the world’s first ETP to track an index of multiple cryptocurrencies using Bitcoin (BTC), XRP, ETH, LTC, and BCH.
The start-up firm raised USD 4 million to fund the projects, which they say are aimed at creating more simplified methods for traditional investors to enter the cryptocurrency space.
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