Arguably the most crypto-friendly stock exchange in the world, Switzerland’s stock exchange SIX may soon be listing another crypto exchange-traded product (ETP) for XRP.
While this news is not yet confirmed by SIX, Swiss crypto startup Amun AG, who work closely with the SIX stock exchange, purportedly told crypto news outlet The Block that an XRP ETP will soon be launched under the ticker AXRP.
SIX already hosts a number of crypto ETPs, with the first being the HODL5 fund – an index of 5 leading digital assets including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).
In addition to this crypto basket, SIX recently started listing individual ETPs and now has a Bitcoin ETP called ABTC. Most recently, they listed an Ethereum ETP called AETH on March 5, 2019. All of the crypto ETPs mentioned here were launched by Amun AG.
Moreover, apart from the soon-to-be launched XRP ETP and the ones mentioned above, other crypto ETPs may soon be coming to SIX, according to Amun AG’s CEO and co-founder Hany Rashwan, in an interview with Coindesk.
According to Rashwan, Amun AG has received SIX’s approval to launch 4 more individual crypto ETPs for Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM) and EOS. It appears that the crypto industry will soon open up to even more traditional and institutional investors.
Already, according to data provided by SIX exchange, the Amun Crypto Basket ETP dubbed the “HODL5 fund” is the most traded ETP by volume. However, while this fund is the most traded on SIX, the price per share has dropped from $15 to $13 since its launch in November of last year.
As mentioned before, the SIX exchange is probably the most crypto-friendly stock exchange in the world, as is evinced by the fact that earlier this year the SIX Swiss Exchange announced that they will be testing blockchain integration for their up and coming digital trading platform, Six Digital Exchange (SDX).
This revolutionary digital assets platform is poised to tokenize stocks, bonds, and possibly ETFs. In an effort to make this vision possible, SIX partnered with blockchain consortium R3’s Corda Enterprise platform to help bring this platform to fruition.
All in all, SIX is quickly becoming a leader in bridging the gap between the crypto industry and the traditional financial markets.
What do you think the Swiss Six Exchange will do for crypto next? Will they be the first exchange to successfully launch a Bitcoin ETF? Let us know what you think in the comment section below.
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