XRP-Based ETP Debutes on the Swiss Stock Exchange SIX Today

Updated on Apr 28, 2022 at 11:28 am UTC by · 3 mins read

Starting from today, April 2, investors will have access to the world’s first XRP-based ETP on the major Swiss stock exchange SIX.

SIX, Switzerland’s major stock exchange based in Zurich, has managed to make headlines when it declared its plans to work more closely with crypto ETP – XRP-based one, most notably.

In November 2018, Coinspeaker reported that SIX Swiss Exchange had approved the listing of the world’s first multi-crypto-based exchange-traded product (ETP). This product known as the Amun Crypto ETP is aimed at tracking the top 5 digital assets by their market capitalization and liquidity. Its target audience is not limited just to institutional investors as it is available for retail ones as well.

World’s First XRP-Based ETP

But the exchange was not going to stop at this point. This year, it has revealed its intentions to list the XRP-based ETP which is to be the first-ever XRP ETP launched to the market.

Such a decision is partially explained by the popularity of XRP token and its position in the top 3 list of the major digital currencies by market cap. What’s more, XRP-based products are being actively promoted by Ripple which is one of the conditions of the interest from the side of institutions.

As well as in the case with the multi-crypto-based ETP, the ETP that will track the price of XRP is being launched in cooperation with London-based financial technology firm Amun AG.

In March, speaking to journalists, Hany Rashwan, co-founder of Amun AG, disclosed that his company had ontained approval from SIX exchange for listing the XRP-based ETP on its platform.

At that time Rashwan noted that according to their plans they would be able to release the world’s first XRP ETP within the following two months but it has taken less time than they expected.

Starting from April 2, investors in Switzerland will now get an opportunity to invest in this new XRP-based ETP. This product will be available on the SIX platform under the name Amun Ripple XRP (AXRP).

Other ETPs

Moreover, it is known that SIX is going to list ETP linked to other digital assets and Amun AG has also received approval to issue ETP linked to such assets as Litecoin (LTC), Bitcoin Cash (BCH), EOS, and Stellar (XLM).

According to the provided information, the listing of these ETPs is scheduled before the end of 2019.

It is expected that this move is able to make the crypto market accessible for a much wider audience. Even those investors who have been working with stocks but preferred not to enter the crypto world now will have an opportunity to do it using such a tool as ETPs.

It is worth mentioning that crypto-related ETPs are under control of the regulatory authority of Switzerland, known as the Federal Financial Market Supervisory Authority (FINMA).

According to Rashwan, the ETPs are required to be backed and collateralized with an equal amount of crypto assets. This time, the ETPs are said to be collateralized with a reliable SEC-registered crypto asset custodian Kingdom Trust.

To learn more about XRP coin, Ripple company, and their innovative solutions, please check out our awesome Ripple guide.

Share:

Related Articles

Ethereum Price: Here’s the Real Reason ETH Is Falling

By April 3rd, 2025

Despite people’s expectations, Ethereum’s price has struggled to retest its all-time high, and CryptoQuant explains why.

XRP Price News: XRP Tests Crucial $2 Support, Will Bulls Defend amid Trump Tariff Woes?

By April 3rd, 2025

Amid Trump’s reciprocal tariffs, XRP price came crashing down 5%, testing crucial support at $2, while futures liquidation surged to $18.5 million.

Bitcoin ETFs Saw $220M in Inflows Despite BlackRock’s Selloff, Trump’s Tariff War

By April 3rd, 2025

US-based spot Bitcoin exchange-traded funds recorded an impressive surge in inflows while the leading product saw $116 million in outflows amid the United States tariff war.

Exit mobile version