SIX Swiss Exchange Welcomes Fourth Cryptocurrency, Lists a New XRP Exchange Traded Product (ETP)
The SIX Swiss Exchange is listing an XRP Exchange Traded Product (ETP) from Amun. This is the same company that released the previous index known as HODL.
At the same time, earlier this month, the exchange introduced Bitcoin (BTC) and Ether (ETH) ETPs.
SIX Swiss Exchange Adds an XRP ETP
With the new addition of the XRP Exchange Traded Product, the SIX Swiss Exchange shows that there is an increased interest for digital assets in the traditional financial market. According to Diar, the firm is also analysing the possibility to add other digital currencies such as Litecoin (LTC), Stellar Lumens (XLM) or even Bitcoin Cash (BCH). Nonetheless, there is no official decision about it yet.
Although the company is launching new ETPs related to virtual currencies, trading volumes are far from being ideal. Indeed, the Amun Crypto index has only seen $20 million in trading volume since it was launched. During the same period of time, Grayscale’s Bitcoin Index has seen around $1 billion in trading volume.
In the United States, the discussion is currently focused on whether the U.S. Securities and Exchange Commission (SEC) will be approving a Bitcoin or crypto-related Exchange Traded Fund (ETF).
Different companies in the crypto space have already proposed to the regulatory agency to approve a Bitcoin ETF. Nonetheless, most of the proposals have been already rejected.
Experts believe that in 2020, this could eventually change. Crypto enthusiasts believe that with the approval of a Bitcoin ETF, institutional and traditional investors would enter the market and help the price of the most popular digital asset grow.
Nonetheless, this remains to be seen, since the ETPs in Europe did not generate the trading volume that many in the space were waiting for.