Swiss stock exchange may soon list an XRP product

11 Mar, 2019 | Updated: 11 Mar, 2019
by Will Heasman
Swiss stock exchange may soon list an XRP product

XRP may be the latest in a slew of crypto products to become readily tradable on Swiss stock exchange, SIX; following the likes of Bitcoin (BTC) and Ethereum (ETH).

Amun AG, is the crypto start-up responsible for the potential XRP listing. And there’s a good chance that this potential may turn into a reality after the firm managed to previously list a basket of cryptocurrencies on the exchange within their aptly named, HODL 5 index including XRP, Bitcoin cash (BCH), ETH, BTC and litecoin (LTC). 

Amun AG has been on a crypto roll recently, managing to also list a sole ETH exchange-traded product (ETP) as well as a sole BTC ETP, under the respective tickers, AETH and AETH.

Now the firm is attempting to get XRP ETP listed on SIX, and thanks to a recent $4 million seed round, they may well achieve this.

The seed round was led by Graham Tuckwell, notably the first person to set up an ETF tracking gold – an ETF which has been attributed to gold’s subsequent swelling price.

Amun AG plans to list the XRP ETP, trading under the ticker AXRP, along with 8 additional undisclosed listings set for 2019.

Speaking to Coindesk, co-founder and CEO of the Swiss company Amun AG, Hany Rashwan, said:

“We can comfortably say that we expect to release the world’s first XRP ETP within the next two months.”

It should be noted that an ETP is not the same as an ETF, the main differences being that an ETP isn’t formally recognized as a collective investment scheme and therefore isn’t subject to approval by Switzerland market regulator. So while this is still an interesting move for crypto awareness, it doesn’t hold a candle to the gravitas of an ETF listing.

Read more: Swiss Exchange SIX launching an Ethereum ETP week after BTC ETP

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