Major Switzerland's stock exchange SIX has just launched an exchange-traded product (ETP) that tracks the XRP price.
The product, which has been developed by the Swiss company Amun AG, is the first XRP ETP and will trade in the exchange under the AXRP ticker.
The company shared its plans to launch an XRP-based ETP last month, when its CEO and co-founder Hany Rashwan said that the Federal Financial Market Supervisory Authority (FINMA), Switzerland’s market regulator, had already given them green light to launch an ETP linked to Ripple's cryptocurrency on the SIX platform.
He also revealed that Amun has been allowed to issue ETPs linked to four more cryptos: Bitcoin Cash (BCH), Litecoin (LTC), Stellar Lumens (XLM) and EOS.
The launch date of these new products is still unknown, however, the company plans to add all the approved crypto ETPs on the Swiss platform before the end of the year. Last month, the exchange launched the Amun Ethereum ETP, which trades under the AETH ticker and is based on the second largest cryptocurrency by market cap.
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