The largest stock exchange in Switzerland, the SIX stock exchange, is planning on launching an XRP crypto exchange-traded product (ETP). Amun AG was the first crypto startup to launch ETPs on SIX. Hany Rashwan, CEO of Amun AG, told CoinDesk that this new product will have the ticker AXRP.
SIX Stock Exchange Adds XRP ETP
The SIX Stock Exchange has not released any formal news yet on this matter and the ETA of AXRP is unknown at this time. In addition to the XRP ETP, Rashwan told CoinDesk that SIX has approved ETPs for four more aLTCoins. According to the CEO, Bitcoin (available on Coinbase) Cash (BCH), EOS, Stellar (XLM), and Litecoin (available on Coinbase) (LTC) will be the next aLTCoins to get their own ETP products on the SIX Stock Exchange.
Amun AG has yet to provide thorough details regarding the new ETP listings. In November of 2018, SIX launched its first ETP that tracks a basket of top-weighted cryptocurrencies. This new product was issued by Amun AG under the HODL ticker. Since November, this total monthly trade volume for HODL has taken over an ETP that tracks crude oil. According to research by CoinDesk journalists, HODL became a top traded ETP on SIX in both December and January, prompting further digital currency ETP products.