Switzerland’s primary stock exchange SIX has just listed another cryptocurrency-based exchange-traded product (ETP), which will keep track of the price of Ripple, the 3rd largest cryptocurrency, by market capitalization.
Great things to come for Amun AG
Amun AG a Swiss company which has four ETPs on the SIX exchange announced through its CEO and co-founder Hany Rashwan that his firm has obtained approval from SIX to launch the XRP-backed ETP with the ticker name AXRP.
Rashwan also mentioned that the company will be launching 6-8 additional products later this year.
Crypto ETPs taking over the market
With AXRP addition, Amun AG currently holds a total of four crypto asset ETP products trading on SIX exchange. On February, the firm offered an ethereum (ETH)-based ETP (AETH). In January a bitcoin (BTC)-based ETP (ABTC) was launched, and the Amun Crypto Basket Index ETP under the ticker symbol HODL went live in November last year.
Few days after the ETP went live, the total monthly trading volume for HODL has overcome that of XETC – an ETP that tracks crude oil – and it’s volume was the number one ETP on SIX during December and January, from information provided by the SIX exchange.
Plans for the future
Looking ahead, Amun has said it is also signing on external customers to use the Onyx platform to launch their own traditional ERC-standard token on the Ethereum blockchain and tokenized exchange-traded funds (ETFs).
The goal is to empower everyone, third parties and itself to tokenize each crypto ETPs and current ETPs, like those who track gold price, making the tokens available to be listed on top security token exchanges.