SIX, the company behind Switzerland’s main stock exchange, is reportedly planning to list a cryptocurrency-based exchange-traded product (ETP) that will track the price of XRP (XRP), the third-largest digital asset.
In a recent interview with CoinDesk, Hany Rashwan, the co-founder and CEO of Swiss blockchain startup Amun, revealed that his firm has received approval from SIX to list the XRP-based ETP under ticker name AXRP.
“We can comfortably say that we expect to release the world’s first XRP ETP within the next two months,” said Rashwan.
AXRP would be Amun’s fourth ETP listed on SIX’s exchange, the first three being HODL, ABTC and AETH. While the latter two track the price of individual digital assets, HODL is a market cap-weighted vehicle that tracks the price of BTC, ETH, XRP and LTC. Rashawn also notes that he’s received the go-ahead for BCH, LTC, XLM and EOS individual ETPs.
As we previously reported, SIX is also launching its own fully-regulated cryptocurrency exchange, called the SIX Digital Exchange (“SDX”), that integrates trading, settlement and custody infrastructure for digital assets into a single platform. The tentative launch date is set for the second half of 2019.
XRP is currently up 1.4% on the day to $0.316037, giving the altcoin a $13.1 billion market cap.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.