SIX, a leading Swiss stock exchange, started trading an exchange-traded product (ETP) that tracks the XRP exchange rate of the Ripple network.
Behind the instrument with the ticker AXRP is Amun AG, which announced plans to launch it last month. According to the head of the company, he wants to make investing in cryptocurrency as easy as buying stocks. Therefore, the firm creates simple, secure and controlled ways for investors to access virtual assets..
Amun AG currently offers a total of four cryptocurrency exchange products. IN Ether-based ETP (AETH) was launched in March, Bitcoin-based (ABTC) in February, and the comprehensive HODL index launched in November 2018, tracking BTC, XRP, ETH, BCH and LTC rates.
The company intends to continue expanding the list of available speculative instruments based on virtual currencies. In the future, it is planned to offer the market new strategies, ETPs and indices. By the end of 2019, 6-8 additional exchange instruments are expected to be launched.
Recall that the SEC has extended the deadline consideration of VanEck and Bitwise applications for the launch of Bitcoin ETF.
text: Ivan Malichenko, photo: bankingtech