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Swiss Stock Exchange SIX to Reportedly List XRP Exchange-Traded Product


Swiss Stock Exchange SIX to Reportedly List XRP Exchange-Traded Product

Swiss stock exchange SIX will reportedly launch an ETP for XRP soon with the help of Swiss crypto startup Amun AG, which had launched the first crypto ETP ever last year

Switzerland’s largest stock exchange SIX will reportedly launch another crypto exchange-traded product (ETP) for XRP, crypto outlet The Block writes Monday, Mar. 11.

Amun AG, a Swiss crypto startup that launched the world’s first listed crypto index product on SIX last November, has confirmed the information to The Block. According to the startup, the XRP ETP will soon be launched under the ticker AXRP. As of press time, SIX has not confirmed the information to Cointelegraph.

Co-founder and CEO of Amun AG Hany Rashwan told another crypto media outlet, Coindesk, that the company has also received SIX’s approval to launch four more ETPs for other altcoins — Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM) and EOS.

According to Financial Times, Amun AG has also recently closed a successful $4.2 million funding round. The financial newspaper writes that Graham Tuckwell, the Australian entrepreneur who was behind the world’s first gold exchange-traded product before founding investment firm ETF Securities, participated in the investment.

As Cointelegraph previously wrote, in November 2018, SIX listed the world’s first multi-crypto-based ETP — dubbed the Amun Crypto Basket ETP — under the ticker HODL. The index tracks five major cryptocurrencies: Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). Later, Amun AG launched ETPs for Ethereum and Bitcoin, which trade under ticker symbols AETH and ABTC.

As per data provided by SIX exchange, the Amun Crypto Basket ETP is currently the most traded ETP by volume. However, the price by share has dropped from $15 to around $13 since its launch in November.

Earlier this year, SIX Swiss Exchange announced it would be testing blockchain integration for its forthcoming parallel digital trading platform Six Digital Exchange (SDX), and would use the technology to tokenize stocks, bonds and possibly ETFs. In March, the exchange partnered with blockchain consortium R3’s Corda Enterprise platform to launch its forthcoming blockchain-powered digital exchange.

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