XRP ETP goes live on the Swiss Stock Exchange

Ripple • April 2, 2019, 4:00AM EDT
UPDATED: April 2, 2019, 4:03AM EDT
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The first known exchange-traded product (ETP) designed to track XRP went live on the SIX Swiss Exchange Tuesday morning.

It has been launched by Swiss fintech firm Amun AG; the startup behind the first listed crypto index product that tracks the 5 largest coins - including XRP. The firm explained the appeal for single asset ETPs like XRP solves "security and custody issues, with a professional and well-structured package," having already launched bitcoin and ethereum ETPs.

As for choosing Ripple, they explained that they "do not make personal biases towards any crypto asset, so long as there is sufficient liquidity, good development records, and no nefarious activity." It added that it planned to have "6-8 additional launches this year", with demand for its index exchange-traded security surpassing expectations.

AUTHOR

Isabel Woodford profile picture Isabel Woodford

Isabel is The Block's London and European reporter. She previously reported for Reuters in Madrid and London, following on from her time as a freelance journalist for the Guardian and the New York Times. She has a Bachelors in War Studies from King’s College London and a Master of Philosophy from the University of Oxford. Conflict of Interest: Edward Woodford, the CEO of SeedCX, is Isabel's brother. She does not report on any issues related to Seed or advise other authors in any regard.

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