Major Swiss Stock Exchange SIX Introduces XRP Exchange Traded Product

SIX, Switzerland’s main stock exchange, has announced that it has listed an Exchange Traded Product (ETP) based on Ripple. Back in March, the exchange revealed its intention to list the aforementioned product, named Amun Ripple (AXRP).

At the same time, Hany Rashwan, CEO and co-founder of Amun, the firm behind the creation of cryptocurrency derivative product AXRP, claimed that it is the first time such a product has been introduced in the market:

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

Additionally, Rashwan said that the firm has also received consent from SIX to introduce four more ETPs based on altcoins. Back in November 2018, SIX listed the world’s first ETP index that tracks multiple crypto assets such as Bitcoin Cash (BCH), Stellar (XLM), Eos (EOS) and Litecoin (LTC).

In early March, the firm also introduced an ETH ETP. Likewise, in February, SIX listed an ETP that tracks Bitcoin (BTC). These developments seem to be a part of a wider trend that allows the Europe to take a lead over the US as far as cryptocurrency ETPs are concerned.