Swiss stock exchange launches XRP price tracking

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SIX, the primary Swiss stock exchange, has launched an exchange-traded product (ETP) that tracks the price of XRP.

Amun AG, the product maker, made the announcement today, saying that the XRP ETP had started trading on the exchange under the ticker symbol AXRP. With today’s launch, Amun AG now has a total of four cryptocurrency ETP products listed on the SIX exchange. In March it launched an ethereum (ETH)-based ETP (AETH). In February it announced that a bitcoin (BTC)-based ETP (ABTC) had gone live, plus the firm launched the Amun Crypto Basket Index ETP under the ticker symbol HODL in November. The HODL product tracks the top 5 cryptocurrencies in terms of market capitalisation and liquidity. It currently comprises BTC, XRP, ETH, bitcoin cash (BCH) and litecoin (LTC).

Amun AG wants to make investing in cryptocurrency “as easy as buying a stock.” Its CEo, Hany Rashwan said, “We seek to create an easy, safe, and regulated way for investors to access the crypto asset class,” and added, as long as any cryptocurrency has “sufficient liquidity, good development records, and no nefarious activity,” the firm would continue adding ETP products: “We plan on launching other strategies, more single asset ETPs, and more indices! We are planning on having 6–8 additional launches this year.”

Amun AG uses its own platform — Amun Onyx –to build the existing ETPs. The platform also operates the products once they go live on the SIX exchange. Furthermore, Amun is also signing on external customers to use the Onyx platform to launch their own traditional and tokenised exchange-traded funds (ETFs).

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