Crypto startup Amun AG is planning to introduce an XRP exchange traded product (ETP) for listing on Swiss stock exchange SIX, The Block reported Monday, March 11. Other media reports suggest that SIX has granted approval for Amun AG to eventually list an additional four ETPs for Bitcoin Cash, EOS, Litecoin, and Stellar.
Amun AG previously introduced its Amun Crypto Basket ETP on the SIX exchange late in 2018. That product’s index tracks five of the most popular cryptocurrencies. The company followed that feat by launching two additional ETPs, for Bitcoin and Ethereum.
The company recently raised $4 million in funds and appears poised to continue its new product offerings throughout 2019. As the Block reports:
Amun AG tells The Block that it plans to list an XRP ETP next which will trade under the ticker AXRP, with plans to list eight additional products in 2019. Additionally, Amun AG will release Onyx, a security token issuance platform by year's end. With Onyx, clients can issue “tokenized ETF and smart securities.” The firm has already signed on its first third-party client who will use Onyx to issue an ETF this summer.